Norilsk to ease palladium supply squeeze after Eskom power cuts SA output
Russian miner delivers more tonnage to provide short-term relief and to cool prices
29 January 2020 - 20:15
Moscow — Russia’s Norilsk Nickel (Nornickel) said on Wednesday its Global Palladium Fund will deliver 3-tonnes of palladium ingots to the market from its stock to provide short-term relief to tight supplies.
Nornickel is the world’s largest producer of palladium. Spot prices for the metal, used by carmakers to reduce harmful vehicle emissions, briefly zoomed above $2,500 this month for the first time as power outages in major producer SA disrupted output, contributing to a supply squeeze...
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