Palladium market seen moving to balance after years of deficit, says Johnson Matthey
The palladium market, which was in a deficit in 2012-2024, will move into balance this year, with demand falling by 6% amid lower production of gasoline vehicles and increased recycling in China, Johnson Matthey said in a report. The 2025 demand outlook for platinum group metals (PGMs) - platinum, palladium, and rhodium - is highly uncertain as the impact of US import tariffs and retaliatory measures by other countries could see PGM use in auto and industrial applications fall short of forecasts, the autocatalyst maker added.
The palladium market, which was in a deficit in 2012-2024, will move into balance this year, with demand falling by 6% amid lower production of gasoline vehicles and increased recycling in China, Johnson Matthey said in a report. The 2025 demand outlook for platinum group metals (PGMs) - platinum, palladium, and rhodium - is highly uncertain as the impact of US import tariffs and retaliatory measures by other countries could see PGM use in auto and industrial applications fall short of forecasts, the autocatalyst maker added.
