Palladium
The autocatalyst metal for gasoline engines, with Russian and South African supply dominating.
Overview
Around 200 tonnes a year come from Norilsk in Russia and the South African Bushveld, so sanctions talk and mine disruptions dominate headlines. Demand leans hard on gasoline autocatalysts, which carried prices above platinum and briefly above gold in early 2022 as hybrids, which favor palladium catalysts, grew faster than expected. Substitution back to platinum and thrifting of loadings cap rallies, and battery electric vehicles need no catalyst at all, framing the long term bear case. Dentistry and electronics take small slices. The 2018 to 2022 run from under 1,000 to over 3,000 dollars an ounce showed what substitution lag does, and the slide afterward showed what eventual substitution does.
Related Topics
Gold
Over 3,000 tonnes are mined yearly, with China, Australia, Russia, and Canada leading, and demand splits jewelry, investment bars ...
Silver
Mine supply runs near 25,000 tonnes a year, over half of it a byproduct of lead, zinc, copper, and gold mining, so supply answers ...
Platinum
About 180 tonnes a year come mostly from deep South African mines, costlier to run than any peer, with Russia and Zimbabwe roundin...
Rhodium
Under 30 tonnes a year come to market, almost entirely as a byproduct of platinum and palladium mining, so no producer chases the ...