Russian Palladium Supply to Sink 2 Percent in 2014: GFMS

Reuters reported yesterday that according to GFMS analysts, this year Russian palladium supply is likely to fall by 2 percent.

As quoted in the market news:

‘We don’t expect any stock sales, therefore the bulk of supply will come from Russian mine output,’ [analyst Johann] Wiebe said. ‘We forecast for this year Russian output of palladium to amount to 2.54 million ounces. This is down by 40,000 ounces from 2013, or 2 percent, and is based on Norilsk Nickel’s own guidance.’

Norilsk said in January it expected its 2014 Russian output of palladium to be 2.5 million to 2.6 million ounces, compared to 2.7 million ounces in 2013. Russia’s Norilsk is the world’s top nickel and palladium producer.

Click here to read the full Reuters report.