|Molecular Weight||106.4 g/mol|
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A chemical component, with the symbol ‘Pd’ and atomic number 46, is called palladium. It is a silvery-white coloured metal which is scarce and glistening.
This metal was found by William Hyde Wollaston, an English chemist, in the year 1803. Palladium, rhodium, iridium, osmium, and ruthenium together create a set of components known as the platinum group of metals or PGMs. Although all these elements have same type of chemical properties however, palladium has the minimum melting point and is lowest in density.
In the periodic table, palladium belongs to groups 8 to 10 (VIIIb) and Periods 5 and 6. The metal is exceptionally malleable and can be easily employed. Also, as compared to other platinum metals palladium is more volatile. Besides, palladium is non-damageable by the atmosphere under normal temperatures hence the metal and its compounds act as substitutes for platinum in jewelry and in electrical contacts.
In the recent years, Russia has been the key producer of palladium, however, in 2021 the country positioned second following South Africa. Around 80 metric tonnes of palladium were produced by South Africa in 2021, whereas Russia generated around 74 metric tonnes. Other countries that lead the production of palladium globally are Canada, Zimbabwe, and the United States.
Key Details About the Palladium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Palladium price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Palladium price chart, pricing database, and analysis can prove valuable for the procurement managers, directors, and decision-makers to build up their strongly backed up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Palladium Price Trend:
The common usage of palladium (over half the supply) is done in catalytic converters for automobiles and other engine operational machines. This metal is the cheapest and more efficient as compared to other catalysts. The second common usage for palladium is in multilayer ceramic capacitors that are popularly used in electronics equipment like mobile phones, fax machines, laptops, etc. Moreover, palladium is utilised in connector coating for several electronics.
In addition, palladium is also employed in making dentistry, jewelry, blood sugar test strips, watch making, surgical instruments, aircraft spark plugs, and electrical contacts. Furthermore, the metal is utilised to create professional classical or concert flutes.
Key Market Players:
- Norilsk Nickel Mining and Metallurgical Company
- Russian Platinum
- Johnson Matthey
- Heraeus Holding
- Shanxi Kaida Chemical Engineering Co., Ltd
- Anglo American Platinum Ltd
News and Events:
- September 13, 2022 – the prices of palladium fell on September 13th since the dollar rate hiked compared to its key rivals, harming goods and minerals. The futures of palladium that is expected in December 2022 dropped 6.2 percent to USD 2,134 an ounce.
- August 25, 2022 – it is anticipated by various market experts that the trail for palladium for the upcoming two years (2023 and 2024) will see upward trend from USD 2,000 to USD 2,500 per ounce by the close of 2024.
- April 08, 2022 – recently the London trading system denied the entry of newly refined platinum and palladium from Russia. The London Platinum and Palladium Market prevented the entry to the metals’ largest trade centre as an action against Russia’s interests owing to the conflict with Ukraine.
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