ANZ: palladium consumption in the automotive sector is expected to grow by 1.1 per cent

SMM3, April 4: despite the recent decline in car sales, palladium consumption in the automotive sector in Europe and China is expected to grow by 1.1 per cent to 8.8 million ounces in 2019, ANZ said. Because with the introduction of stricter environmental laws, the auto industry needs to make more use of palladium, a precious metal.

The supply of waste palladium is expected to grow by 10 per cent to 2.8 million ounces in 2019. At the same time, due to factors such as a good recovery system, platinum supply will increase by 3 per cent to 1.4 million ounces.

At present, the market needs to increase supply or reduce demand to solve the problem of insufficient supply of palladium, but with the increase in the price of palladium, the demand for palladium will be gradually rationalized.

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