Paul Dunne, chief executive officer of Northam Platinum Holdings Ltd., said the market for platinum-group metals “is the worst” he’s seen in a career that started in the late-1980s. “We need to see a real structural change in the supply of palladium to reassert pricing power into the market,” he said in an interview. The price of platinum – also used in vehicle anti-pollution devices but less dependent on auto demand – has fared better than palladium, and currently trades near where it began last year. About 70% of platinum production comes from South Africa, and consumption is expected to outstrip supply this year by the biggest margin in a decade. The destocking phase will likely last another year, after which the market should tighten and prices improve, he said.

Source: The North Africa Journal June 01, 2024 04:20 UTC