Palladium prices averaged USD 1,069 per troy ounce in October, up 5.0% from September. On 31 October, the commodity traded at USD 1,125 per troy ounce, up 12.7% from 30 September.
Fears of further supply woes fueled an increase in palladium prices from their September average in October: The U.S. recently floated the idea of imposing sanctions on palladium exports from Russia—the top global producer. Demand-wise, rising safe-haven demand likely outweighed downward pressure stemming from softer new car demand plus a stronger U.S. dollar and higher U.S. treasury bill yields in October vs September.
This chart displays Palladium (US$/toz) from 2022 to 2024.
Palladium LME (prices in US$/toz, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Palladium LME | 1,567 | 1,445 | 1,250 | 1,093 | 980 | 973 | 970 | - |