Standard Bank has focused on global demand for palladium on a possible rise.
Walter De Wet reports;
Palladium demand has reached it’s highest point in two years as 400k ounces of the precious metal was exported from Switzerland last month, according to customs reports which were released yesterday.
Distribution points to demand rising even more, as the metal went out to various countries. London was in the lead with a delivery of 191k oz. followed by Germany(141k oz.), the US(61k oz.), China(42k oz.) and Japan(21k oz.)
China does not seem to be slowing down, regardless of what the media says. The middle class has provided enough automotive purchases this year to surpass the United States in automotive sales for the first time in history. The US has a keen focus on the use of coal as a fuel. Palladium is needed to make this fuel source enviromentally friendly as it burns.
There are numerous indicators that seem to prove theories of past contributors correct. Palladium looks to be a vehicle that has the capability of returning decent profits for those that catch this metal in time.