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13 Dec 2024

Palladium market balanced this year and next according to leading producer – Commerzbank

The world's largest Palladium producer from Russia expects an almost balanced Palladium market in 2024, according to a press release published this week, Commerzbank’s commodity analyst Carsten Fritsch notes.

Russia expects an almost balanced Palladium market in 2024

“The world's largest Palladium producer from Russia expects an almost balanced Palladium market in 2024, according to a press release published this week. This is based on the assumption of higher Palladium supply from Russia and weaker demand from the automotive industry. Previously, a considerable supply deficit of 900 thousand ounces was expected.”

“The company also anticipates a balanced market in 2025 as lower mine production is likely to be compensated for by a higher recycling supply in the automotive industry, while demand is likely to stagnate at this year's level. The company is forecasting a supply deficit of 200 thousand ounces for the platinum market next year, with the market expected to be balanced this year.”

“The World Platinum Investment Council, on the other hand, expects larger supply deficits for platinum in both years, which can largely be explained by investment demand. This is apparently not taken into account by the aforementioned company.”

Dec 13, 2024

USD trades mixed versus majors – Scotiabank

The US Dollar (USD) is ending the week on a mixed note. But the Dollar Index (DXY) is tracking lower from its intraday high, reflecting a rebound in the EUR from early session lows, and that does leave a bit of a dent in the short-term technical outlook for the index and might point to broader losses developing over the next day or so, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
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Dec 13, 2024

CAD: Canada mulls tariff response – Scotiabank

The Canadian Dollar (CAD) remains under pressure into the end of the week amid rising trade tensions.
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