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Nornickel Expects Palladium Shortage to Worsen in 2020

Fri Nov 29 2019

 

Nornickel, in alliance with ICBC Standard Bank, has prepared a report on palladium markets. Nornickel experts expect palladium consumption volumes to outstrip production up until 2025 primarily due to the growing demand for the metal used in the catalysts of internal combustion engine cars, including the hybrid ones. Regulatory restrictions on exhaust gas pollution get harsher every year, especially in such densely populated countries as China, India, the USA and the EU. This year, palladium shortages were somewhat offset by supplies of refined metal coming from the work-in-progress inventories accumulated by South African producers last year.

 

Next year, palladium shortage will worsen as car production gradually recovers on the back of anticipated government support for car sales in China and the automotive industry’s efforts to ensure compliance with new regulations.

 

Over the long run, considerable additional demand for palladium is projected to build up, potentially covered by the construction of new projects by key producers and recycling.

 

Source : Strategic Research Institute, SteelGuru

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