[miningmx.com] – AN increase in newly mined supplies of palladium from South Africa and record supplies from recycling could see the metal trading at $650/oz by the year-end – its lowest level since June 2013, said Bloomberg News.
Citing analyst reports, the newswire said that Chinese car sales had also slowed down which would compound the metal’s woes.
“There will not be a huge increase in demand on a net basis since a lot of palladium should come back from the cars that are being replaced,” Donald Selkin, chief market strategist at National Securities Corporation told Bloomberg News.
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