Growing Demand for Palladium Caused Pricing to Rise 100% Over Last Three Years

PALM BEACH, Fla., July 23, 2020 /PRNewswire/ — Palladium is an important component in electronics, and it is used in many new technologies, such as fuel cells. As a commodity, it has drawn the attention of investors because it is not easily substituted for other metals. For example, the element is an important component of catalytic converters. A recent report from Mining Technology said: “With growing demand thanks to its uses in cutting car emissions, palladium is enjoying a boom, with prices rising over 100% in three years. This surge in demand, however, means that there are few well-established palladium mines. With this lacking tradition of secure palladium production, questions have been raised about the future of the metal, and the mining industry’s ability to produce it. Palladium has enjoyed a strong few years. The platinum group metal has seen increasing demand and prices due to its usage in catalytic converters in cars, which are becoming mandatory as the automotive industry looks to clean up its environmental performance. Figures support this growth: global production reached 214 tonnes in 2017, compared to annual gold production of around 175 tonnes, and the metal saw its price skyrocket from $562.98 per ounce at the end of 2015 to $1,261.78 per ounce three years later, an increase of 124%.” Active mining stocks in the markets this week include Canadian Palladium Resources Inc. (CSE: BULL) (OTCQB: DCNNF), Tesla, Inc. (NASDAQ: TSLA), Vale S.A. (NYSE: VALE), Ivanhoe Mines Ltd. (OTCQX: IVPAF) (TSX: INV), Impala Platinum Holdings Limited (OTCQX: IMPUY).