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Citi expects Palladium to rebound by the second half of 2016
Apr 20, 2016 09:42Source:SMM
Palladium is likely to experience deeper supply deficits than platinum over the next five years, driven primarily by strong gasoline-related auto-catalyst demand, said Citi Research.
UNITED STATES April 19 2016 11:18 PM
NEW YORK (Scrap Register): Palladium is likely to experience deeper supply deficits than platinum over the next five years, driven primarily by strong gasoline-related auto-catalyst demand, said Citi Research.
Palladium is used for catalysts in gasoline-powered vehicles, while platinum is required for diesel-powered ones. Auto-catalyst scrap supply for palladium should recover in 2017 as prices improve; however, this is unlikely to fully counteract stagnating primary and co-product mine supply, Citi added.
As such, Citi expects palladium prices to rebound by the second half of this year. The bank forecasts palladium will average $535 an ounce in 2016, $630 in 2017 and $690 in 2018.
As of 9:11 a.m. EDT, Nymex June palladium was up $12.55, or 2.2%, to $580.55 an ounce.
Citi Research
Citi
Palladium prices
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