The largest producer of Paladio in Russia has slightly reduced its prognosis of paladium production for this year, says Commerzbank raw material analyst Carsten Fritsch.
ETF outputs point to a less adjusted market
“Now awa a range of 2.68-2.73 million ounces (previously 2.7-2.76 million ounces). Platinum production is expected to also be slightly lower than the previously forecast, at 645-662 thousand ounces (previously 662-675 thousand ounces). This means that the paladium market could see a slight supply deficit, being the deficit of supply for the supply deficit Something older platinum. “
“In its market forecast published in early July, the company had anticipated a balanced paladium market for this year and a supply deficit of 200,000 ounces for platinum. This provides only limited arguments for future price increases for platinum and paladium. The platinum ETFs tracked by Bloomberg have reported massive outputs of more than 160,000 ounces from the middle Net departures from the beginning of the month to almost 250,000 ounces. “
“ETF investors seemly see the level of significantly higher prices as a sale opportunity. ETF outputs point to a less adjusted market. In their current forecast, the WPPPO assumes 100,000 ounces ETF tickets this year. We are currently significantly below this figure.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
