Palladium chloride prices fell sharply in October, following a sustained downward trend after the holiday. The decline was steeper early and tapered later, reflecting lower upstream feedstock costs and increased spot supply. The downward momentum has eased, suggesting a potential slowdown in price falls.
South Africa's mining power crisis, declining capacity, and disruptions to Russian palladium exports have increased supply uncertainty, tightening the market and likely supporting higher prices.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Palladium | China | CIF | USD 1,107.87/Ounce | October 2026 |
| Palladium | India | CIF | USD 1,107.87/Ounce | October 2026 |
| Palladium | USA | CIF | USD 1,107.87/Ounce | October 2026 |
| Palladium | Brazil | CIF | USD 1,107.87/Ounce | October 2026 |
| Palladium | Germany | FOB | USD 1,107.87/Ounce | October 2026 |
| Palladium | China | CIF | USD 1,304.17/Ounce | September 2026 |
| Palladium | India | CIF | USD 1,304.17/Ounce | September 2026 |
| Palladium | USA | CIF | USD 1,304.17/Ounce | September 2026 |
| Palladium | Brazil | CIF | USD 1,304.17/Ounce | September 2026 |
| Palladium | Germany | FOB | USD 1,304.17/Ounce | September 2026 |
Stay updated with the latest Palladium prices, historical data, and tailored regional analysis
In Asia, the average price of Palladium rose from ~USD 1,277.20/Ounce (CIF) in July to ~USD 1,353.84/Ounce in August, an increase of ~6%. Prices were weak in early July, as renewed US–Iran fighting, hawkish US Federal Reserve signals, a stronger dollar and soft downstream demand weighed on the market. Values recovered in August as supply concerns returned. The world’s largest palladium producer expected lower output in 2026 from lower-grade ore, while US duties on Russian palladium encouraged traders to bring Russian metal into China early. China’s palladium imports more than doubled in the first half, also driven by price differences between Chinese and overseas markets. South African supply rose, but mainly as a recovery from earlier flooding. Prices eased again in late September as higher US bond yields and continued Hormuz tensions weighed on precious metals.
Analyst Insight
According to Procurement Resource, looking ahead, palladium prices may stay range-bound, with supply concerns offering support while weak automotive demand limits upside.
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Palladium prices weakened in Q2’26 as the demand side became the main pressure point, especially for autocatalyst consumption. Lower gasoline-car production reduced fresh buying from catalyst manufacturers, while battery-electric vehicle growth continued to cut palladium use per vehicle. Official Chinese auto data showed May vehicle sales declined 2.1% year-on-year, while new-energy vehicles accounted for 56.9% of new-vehicle sales, directly limiting palladium intensity in the fleet mix. Exports partly supported automobile production, with vehicle exports rising 68.7% year-on-year in May, but the benefit to palladium was diluted because a rising share of exported vehicles was electrified. On the supply side, Russian production cuts gave some support, yet available supply and recycling kept the market from tightening sharply. The key Q2 shift was that palladium’s traditional demand base weakened faster than supply risks could lift sentiment.
Analyst Insight
According to Procurement Resource, in the near term, palladium may remain demand-sensitive, with limited upside unless gasoline and hybrid catalyst demand improves or mine supply tightens more sharply.
Palladium is a well-known chemical element which is a nickel group element atom, a platinum group metal atom as well as a metal allergen. Palladium is one of the rare and lustrous silvery-white metal. It has the lowest melting point and is the least dense of platinum group metals. The main use for Palladium is in catalytic converters for the automotive industry.
Pd
Catalytic reactions, Hydrogenation of unsaturated hydrocarbons, Jewellery, Dental fillings, Electronics and technoogy, Crowns, Catalytic converter, Automotive industry
Palladium on Carbon, Palladium Black, Paladio
Norilsk Nickel Mining and Metallurgical Company, Russian Platinum, Johnson Matthey, Heraeus Holding, Shanxi Kaida Chemical Engineering Co., Ltd, Anglo American Platinum Ltd
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Palladium can be found in deposits alloyed with gold and other platinum-group metals, including nickel–copper deposits, and from there it is mined. Though at a commercial scale, its production starts from the residue of the production of another metal, generally nickel.
Firstly, the residue is dissolved in aqua regia, that allows various metals present in it to form their nitrates. If silver is found to be present, then it is removed by forming silver chloride. When distinct types of elements are added to the mixture, all the elements get separated, thus, allowing manufacturers to extract Palladium.
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