{"id":1106127,"date":"2019-03-19T12:20:26","date_gmt":"2019-03-19T12:20:26","guid":{"rendered":"http:\/\/www.mining.com\/?p=976807"},"modified":"2019-03-19T12:20:26","modified_gmt":"2019-03-19T12:20:26","slug":"russia-ban-fiat-chrysler-drive-palladium-price-to-new-record-high","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1106127","title":{"rendered":"Russia ban, Fiat Chrysler drive palladium price to new record high"},"content":{"rendered":"

Palladium prices were driven further into uncharted territory on Tuesday, briefly topping the $1,600 an ounce level on the back of an expected spike in demand from the auto sector just as top producer Russia considers banning scrap exports.<\/p>\n

The precious metal is trading more than 70% higher than this time last year.<\/p>\n

Reuters reports Russia is mulling a ban on the export of precious metals scrap and tailings to promote domestic refining of the materials.<\/p>\n

The news follows an announcement last week that US authorities have ordered Fiat Chrysler Automobiles to recall 965,000 vehicles over failed emissions testing. The automaker could also face a consumer class action lawsuit over potential delays in implementing the recall.<\/p>\n

Palladium is mainly used in catalytic converters for gasoline-powered vehicles to scrub emissions and some estimates put the required palladium to bring the recalled vehicles up to standard as high as 100,000 ounces.<\/p>\n

\"Russia<\/p>\n

Concentrated supply<\/h3>\n

Palladium supply is a byproduct of platinum mines in South Africa and nickel mining in Russia, which between them control nearly 90% of global output.<\/p>\n

The market has been in deficit for several years and above ground stocks including Russia state stockpiler which have kept prices in check in the past have dwindled rapidly.<\/p>\n

Demand for sister metal rhodium associated with the recall is put at around 25,000 ounces. Prices for rhodium recently hit decade highs and is now trading above $3,000 an ounce.<\/p>\n

Platinum, which at $836 an ounce is trading at a record discount to gold and palladium, is used mainly in catalysts for diesel-powered vehicles. Platinum is a viable candidate as a substitute for palladium, but a platinum\u00a0autocatalyst with the same efficiency is likely years away.<\/p>\n

The post Russia ban, Fiat Chrysler drive palladium price to new record high<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Precious metal is up nearly 90% since August.<\/p>\n

The post Russia ban, Fiat Chrysler drive palladium price to new record high<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[404,369,406,2035],"tags":[131,89,96,105],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1106127"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1106127"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1106127\/revisions"}],"predecessor-version":[{"id":1106240,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1106127\/revisions\/1106240"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1106127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1106127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1106127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}