Palladium Supply Falls 4 Percent in 2012 as Demand Grows by 5 Percent

Bloomberg reported that in a report released Thursday, Thomson Reuters GFMS said that palladium recorded the highest deficit in 11 years in 2012. The deficit was caused by increased demand and less supply as a result of strikes at South African mines.

As quoted in the market news:

Palladium supply fell 4 percent to 8.19 million ounces as usage expanded 5 percent to 9.32 million ounces, the highest on record, the London-based researcher said [Thursday] in a report. Excluding sales from Russian state stocks and investor selling, demand outstripped supply by 1.12 million ounces, the biggest gap since the 1.3 million-ounce shortfall in 2001, GFMS said.

Click here to read the full Bloomberg report.