Hydrogen-economy Pd token rising, and Pt token undervalued I suppose
bloomberg.com
Palladium Jumps to Record High on Supply Shortfall, Auto Demand
Yvonne Yue Li
April 21, 2021, 10:47 PM GMT+8
Spot palladium surged to a record high on expectations that rebounding demand from automakers will exacerbate a supply shortfall.
The metal, used in catalytic converters to curb emissions in gasoline-powered vehicles, rose as much as 4.8% to $2,895.96 an ounce, surpassing the previous record set in February 2020. Prices have climbed more than 17% in 2021, building on five straight annual gains.
The palladium market has been in a production deficit for several years now, and tighter pollution standards in Europe and China are spurring demand for the metal from automakers. Disruptions at Russian mines run by MMC Norilsk Nickel PJSC, the world’s largest producer, have added to supply concerns.
”It’s a confluence of factors that’s driving palladium,” said Tai Wong, head of metals derivatives at BMO Capital Markets. “Fundamentally, there’s going to be a material deficit this year and automakers need to restock.”
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