N e w s

The sheer growth of palladium price continued on February 15. The prices grew 8-8.7 percent and reached the ever highest point. This was caused by strict limitations of the metal supplies from Russia and at the same time by high demand by automobile producers. We remind that Russian supplies provide approximately 70% of palladium and 20% of platinum to the market. According to the operating government quotas only Norilsk Nickel has a permission to supply palladium in limited amounts. Other palladium producers will have to wait for new quotas to be established, which will happen in several weeks at the least. At New York Exchange the rate of March palladium futures surged up $658.35 an ounce (+8.7 percent), the record point in the whole exchange history. In London palladium price with instant supply jumped 10 percent and hit $654.5 an ounce. Palladium price has nearly doubled since the beginning of the year. Platinum price also keeps rising. The April contract rate reached $527.9 an ounce (+2.1%).

Source: Finmarket