Singapore/London — Palladium is heading for the biggest weekly decline in more than three years as investors’ focus turned to demand amid concerns over slowing global growth. The metal used in auto catalysts to curb emissions sank 17% in three days from Tuesday before paring losses, putting it on course for an 11% weekly drop. The metal hit a record high on March 21 after a massive rally that spurred predictions a reversal was inevitable, and led hedge funds to cut bullish bets for a fourth week. With the palladium market expected to be in deficit for an eighth year, manufacturers of petrol vehicles have scrambled to get hold of supplies to meet stricter standards for pollution control. Still, analysts surveyed by Bloomberg last week saw the metal ending the year in the $1,300s an ounce, partly as shortages are priced in and as car sales in key markets slow. As prices scaled new highs in the first quarter, Saxo Bank, Commerzbank and UBS were among banks warning of the potential for ...

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