The world’s largest palladium producer, from Russia, expects an almost balanced palladium market in 2024, according to a publication this week, says Commerzbank commodities analyst Carsten Fritsch.
Russia expects almost balanced palladium market in 2024
“The world’s largest palladium producer, sourced from Russia, expects a nearly balanced palladium market in 2024, according to a publication this week. This is based on the assumption of higher palladium supply from Russia and lower demand from the automotive industry. Previously, a considerable supply deficit of 900 thousand ounces was expected.”
“The company also anticipates a balanced market in 2025, as lower mining production is likely to be offset by increased recycling supply in the automotive industry, while demand is likely to stagnate at this year’s level. The company forecasts a supply shortfall of 200 thousand ounces for the platinum market next year, with the market expected to be balanced this year.”
“The World Platinum Investment Council, on the other hand, expects larger supply shortfalls for platinum in both years, which can largely be explained by investment demand. This is apparently not taken into account by the company mentioned “
Source: Fx Street
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