![]() Mine production eased to 6.89 million ounces from 7 million, hurt by lower shipments from Russia. This drove automotive demand for palladium to a record high of 9.7 million ounces, despite lower auto production in most regional car markets.Īll forms of palladium demand amounted to 11.5 million ounces in 2019, up from 10.2 million in 2018, Johnson Matthey said. ![]() The company said that average palladium loadings rose by 14% in gasoline-powered cars. ![]() “The palladium market deficit widened to over 1 million ounces in 2019, as combined primary and secondary supplies grew only modestly, while auto-catalyst demand surged higher on the back of new legislation in China and more stringent testing regimes in Europe,” Johnson Matthey said. Analysts generally have cited strong auto-catalyst demand that is causing a continuing wide supply deficit. Palladium prices rose sharply in 2019 and are up again in 2020. Meanwhile, sister metal platinum was in a slight deficit last year, but may end up in a surplus in 2020 unless there is substantial investment demand for the metal, Johnson Matthey said. (Kitco News) - The palladium market was in a supply/demand deficit of more than 1 million ounces in 2019, and the shortage is expected to be even worse in 2020, said Johnson Matthey Wednesday in a report on the platinum group metals.
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