Palladium ETF Holdings Fall as China Auto Sales Weaken

Bloomberg reported that palladium ETF holdings have been falling as vehicle sales in China have been on a downward trend. Palladium prices could be headed for the biggest annual loss since 2008, the news outlet reported.
As quoted in the publication:

Holdings in exchange-traded products of palladium, used in auto pollution-control devices, have dropped for six straight weeks, the longest slump since data began in 2007. Vehicle sales in China, the world’s biggest metals consumer, fell to a 17-month low in July and barely rose in August. Futures slid to a five-year low Aug. 26, on the way to a third straight monthly decline.

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