Palladium Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Palladium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Palladium Price Trend for the Second Half of 2023

Palladium prices have plummeted to new lows in the last two quarters of 2023, as they were driven by the excessive supply fueled by the increasing adoption of electric vehicles and automakers favoring cheaper platinum for their autocatalysts. In the past few quarters, the prices were already dwindling on the lower end of the spectra due to the limited number of sales of the automotive sector, slowing down of the electric vehicle industries, especially in the Asian countries, and rerouting of supply routes due to the Russian Ukraine war.

Palladium Price Chart

Palladium Price Trends


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However, in the last two quarters, the aforementioned industries gained momentum with the rise in their sales figures, but the manufacturers seemed reluctant to increase their consumption of palladium, hampering the trajectory of its price trend. Further, the push to reduce carbon emissions and the rise of alternative options for the downstream industries have raised the competition for palladium manufacturers and have dampened the movement of its prices. Additionally, a significant inventory overhang adds to supply concerns as mined palladium stocks remain ample. However, the downfall of the market was not steep but gradual, with slight rebounds in some of the months of the H2 of 2023, raising the hopes and expanding the budgets of the investors and manufacturers.

Analyst Insight

According to Procurement Resource, the price of Palladium is estimated to fluctuate in the limited range as the availability of cheaper alternatives and a slight rise in the production activities might result in oscillating momentum of the palladium price trend.

Palladium Price Trend for the First Half of 2023

Palladium is the platinum group metal in the periodic table. Because of its low melting point, it is extensively used in the automotive industry as a catalytic converter. Palladium is usually found in alliance with other metals in their ores, mostly nickel.

During the first half of the year 2023, palladium prices varied with the demands variation in the automobile industry. The European markets were still struggling with inflation and disturbed supply chain issues, especially in heavy-duty manufacturing like automobiles. General purchasing power had regressed for end consumers, so the automobile sales were at record lows.

Thus, the Palladium demand also depleted, and with this, an almost 21% decline in average monthly Palladium prices was observed in the European markets. The monthly spot prices stood at around 1744 USD/MT in January’23 and came down to about 1367 USD/MT in June’23. Overall, bearish market sentiments were observed.

Analyst Insight

According to Procurement Resource, the Palladium market prices are not projected to improve anytime soon since it can take longer for the manufacturing sector to incline again.

Procurement Resource provides latest prices of Palladium. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About

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.

Product Details

Report Features Details
Product Name Palladium
Industrial Uses Catalytic reactions, Hydrogenation of unsaturated hydrocarbons, Jewellery, Dental fillings, Electronics and technoogy, Crowns, Catalytic converter, Automotive industry
Chemical Formula Pd
Synonyms 7440-05-3, Palladium on carbon, Palladium Black, paladio
Molecular Weight 106.4 g/mol
Supplier Database Norilsk Nickel Mining and Metallurgical Company, Russian Platinum, Johnson Matthey, Heraeus Holding, Shanxi Kaida Chemical Engineering Co., Ltd, Anglo American Platinum Ltd
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-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.

Production Process

  • Production of Palladium via Extraction

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.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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