Posted on Apr 27, 2021 at 7:00 AMUpdated Apr 27, 2021, 7:10 AM
Always higher, always stronger! The ounce of palladium has risen by nearly 20% since the start of the year to trade at 2,906 dollars on Monday, breaking its previous all-time high, recorded in February before the pandemic. This precious metal is highly sought after by the automotive industry for the manufacture of catalysts for the exhaust pipes of gasoline cars. It only takes about 5 grams per catalyst, but the market is very narrow, 80% of the world supply is swallowed up by the assembly lines of car manufacturers.
Since Volkswagen’s dieselgate, the market for gasoline-powered automobiles has experienced a renaissance, with fine particles in these engines being less harmful. All the more so as Europe and China are strengthening their antipollution standards, forcing individuals to switch to gasoline and manufacturers to add palladium in catalysts.