Palladium market balanced this year and next according to leading producer – Commerzbank
The world's largest Palladium producer from Russia expects an almost balanced Palladium market in 2024, according to a press release published this week, Commerzbank’s commodity analyst Carsten Fritsch notes.
Russia expects an almost balanced Palladium market in 2024
“The world's largest Palladium producer from Russia expects an almost balanced Palladium market in 2024, according to a press release published this week. This is based on the assumption of higher Palladium supply from Russia and weaker 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 mine production is likely to be compensated for by a higher recycling supply in the automotive industry, while demand is likely to stagnate at this year's level. The company is forecasting a supply deficit 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 deficits for platinum in both years, which can largely be explained by investment demand. This is apparently not taken into account by the aforementioned company.”
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