The Moscow Times reported that according to an executive at Russia’s Norilsk Nickel (MCX:GMKN), palladium producers will need to increase their output as 2020 approaches because currently output trails consumption by 30 tons.

As quoted in the market news:

‘This lag will increase during the years to come and could (reach) 60 tons by 2020, if new projects do not appear,’ said Anton Berlin, the head of the marketing department of Norilsk’s sales arm Normetimpex.

‘However, metal producers understand this and, most likely, will review their strategy to increase production,’ he said.

He declined to say whether Norilsk, which accounts for 41 percent of global palladium output, would increase its production.

Click here to read the full report from The Moscow Times.