Palladium Surplus Will Be Most Since 2007, Johnson Matthey Says

Bloomberg reported palladium demand will fall short of supply by the most since 2007 this year.

As quoted in the market news:

Lower jewelry purchases for a third consecutive year will help cut total demand by 8.7 percent and leave the market in a surplus of 725,000 ounces, compared with last year’s shortage of 530,000 ounces, London-based Johnson Matthey said today in a report. The researcher and trader in May had predicted a 2011 deficit and now expects that to occur next year. Platinum usage will fall short of supply by 195,000 ounces this year and there will be a “small” surplus in 2012, Johnson Matthey estimates.

Click here to read the full Bloomberg report.