https://www.bloomberg.com/asia Why Palladium Is Suddenly a More...

https://www.bloomberg.com/asia

Why Palladium Is Suddenly a More Precious Metal

By
Eddie van der Walt
and
Ranjeetha Pakiam
‎29‎ ‎October‎ ‎2019‎ ‎6‎:‎26‎ ‎AM

Palladium is now the most valuable of the four major precious metals, with an acute shortage driving prices to a record. A key component in pollution-control devices for cars and trucks, the metal’s price doubled in little more than a year, making it more expensive than gold.

What is palladium?

It’s a lustrous white material, one of the six platinum-group metals (along with ruthenium, rhodium, osmium, iridium and platinum itself). About 85% of palladium ends up in the exhaust systems in cars, where it helps turn toxic pollutants into less-harmful carbon dioxide and water vapor. It is also used in electronics, dentistry and jewelry. The metal is mined primarily in Russia and South Africa, and mostly extracted as a secondary product from operations that are focused on other metals, such as platinum or nickel.