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Frik Els of Mining.com reported that palladium prices lost close to 3 percent on Monday while platinum prices decreased by more than $20 per ounce. According to Mining.com, prices for the metals are not reacting as expected to supply squeezes from Russia and South Africa, especially in light of revived demand from the European automobile industry.
Frik Els of Mining.com reported that palladium prices lost close to 3 percent on Monday while platinum prices decreased by more than $20 per ounce. According to Mining.com, prices for the metals are not reacting as expected to supply squeezes from Russia and South Africa, especially in light of revived demand from the European automobile industry.
According to the publication:
Palladium also fell on Monday with June futures last trading at $768.75, down 2.8% on the day and recovering slightly from a day low of $761.25.
Palladium which has been outperforming platinum, helped in part by tensions with Russia which together with South Africa control more than 70% of global supply.