Palladium price drops below platinum for first time in five years
Palladium fell by 39% in 2023 after rising prices from 2018 to 2022 caused the auto sector, accounting for 80% of demand, to start replacing it with cheaper platinum in autocatalysts.
China is expected to continue building its influence over key minerals such as lithium and cobalt across the developing world, according to S&P Global.
The emerging global hydrogen supply chain is essentially “made of platinum,” says Bank of America Global Research commodities strategist Michael Widmer.
The location of many energy transition minerals will require access to land in regions of political instability or insecurity, including in Africa, Asia and Latin America.