Weekly Special Report: Palladium

PALLADIUM USE AND MARKET SHARE:

• Palladium is mostly used in catalytic converters by the car industry to reduce harmful gas emissions, while tightening regulations are forcing automakers to put more Palladium into each vehicle, which in turn could keep the demand outlook positive. Palladium has also been used in fuel cells to generate power.
• MARKET SHARE (PRODUCERS): Russia is the largest producer, holding 43% of the market, while South Africa is the second largest with 33.00% of the market. Canada is third on the list with 9.5% of the global production.
• MARKET SHARE (CONSUMERS): China is the largest Palladium consumer with 31%, while Europe and North America (USA) hold 20% each. Japan stands at 11%.

GEOPOLITICS: U.S.A. - CHINA SUMMIT

• EVENT (MAY 14 - MAY 15): U.S. PRESIDENT TRUMP WILL VISIT CHINA AND MEET PRESIDENT XI. The rare in-person meeting, already once delayed due to the US-Israeli war with Iran, is now scheduled for May 14-15, according to the White House. China’s foreign minister urged the US to maintain “stability” between the two powers.

Chinese officials are expected to dangle lucrative deals during the May 14-15 summit in Beijing, likely in exchange for concessions on U.S. tariffs or other trade restrictions. Auto sales is likely to be one of Xi’s main focal points, as well.

PALLADIUM: MARKET DEFICIT EXPECTED

• SUPPLY REMAINS TIGHT. Palladium supply is limited, with Russia producing a large share of the global output. Geopolitical tensions and sanctions continue to restrict exports. Nornickel, Russia’s main producer, has indicated that output may remain constrained, keeping the market tight and supporting higher prices.
• MARKET DEFICIT (2026): Norilsk Nickel (Nornickel), the world’s largest palladium producer, expects the palladium market to remain in deficit in 2026. Overall, the market is projected to post a deficit of around 100,000 ounces in 2026, following last year’s deficit of approximately 200,000 ounces, according to Nornickel estimates.

EVENTS:

• MONDAY, MAY 18 AT 03:00 GMT+1: CHINA INDUSTRIAL PRODUCTION (APRIL): The indicator measures the year-over-year change in output from factories, mines, and utilities, reflecting the strength of China’s industrial sector. China’s industrial production rose by 5.7% in March, exceeding analysts’ forecasts of 5.4% and February’s 5.3%.

TECHNICAL ANALYSIS:

• SHORT -TERM TREND IS UP. Since November 2025, palladium has rebounded several times from the strong support area. In late March, another rebound occurred, and since then, the price has remained in an uptrend (blue trendline).
• SUPPORT AREA: $1350 – $1450. This zone represents its next support area for Palladium prices.
• PALLADIUM HIT AN ALL-TIME HIGH OF $3,409 (March 2022). Palladium price has traded around $1,500, and if a full recovery takes place, the price of palladium could see an upside of around 129%. Although the price could decline as well.

GRAPH (Daily): November 2025 - May 2026

Please note that past performance does not guarantee future results

Palladium, May 12, 2026
Current Price:  1,500

Example of calculation based on weekly market trend for 1.00 Lot¹

1. The above calculations are made based on 1.00 lot which is equivalent of 100 units
2. Calculations for exchange rate used as of 11:20 (GMT+1) 12/05/2026

You can use risk management tools such as Stop-Loss and Take-Profit.