As palladium’s record-breaking rally makes guessing the size of stockpiles more important than ever, one thing at least is clear – they’re getting a lot smaller. Inventories held by producers, investors and users have been key to feeding a market that’s faced supply deficits for the past eight years. While their size is largely a mystery, researcher Metals Focus estimates that stockpiles have almost halved in the past decade to equal about 14 months of demand.
