The Conversation (0)
A brief overview of palladium price developments, supply and demand, and significant market movers.
Palladium ended May at $610, down $72 from the previous month. Palladium went into June at the same rate. Throughout the month, prices have risen, with a high thus far of $638.
The month-to-date high was seen on Friday June 15. In addition to having the support of rising platinum prices, it appears that palladium investors finally began to buy into supply concerns. The turbulence on the South African PGM mining scene included a delayed development project, announcement of a mine closure, and clashing unions that threatened output. With these events came some fund buying.
But during a June 21 sell-off prompted by QE disappointment and weak global flash PMI data, palladium was not spared. The metal tumbled back to $617 and has been under pressure ever since, hitting a month-to-date low of $592 on June 27.