****PGMs mixed; Pt surge hits pharma costs, Nornickel Pd offsets****
Key Questions
What are the current price ranges for platinum and palladium?
Pd trades $1058-1485, Pt $1424-1971 near 3-month $2000 lows. Pt surged 30% since Jan but holds near lows.
How is Nornickel affecting palladium prices?
Nornickel's Pd offsets auto demand loss with China fibreglass use of 0.8M oz by Apr 26, stabilizing prices amid Russia supply.
Why are platinum prices impacting pharma costs?
Pt doubling to ₹8k/g hikes cancer drug production costs by 50%, prompting price increase requests due to market deficit.
What is the long-term supply outlook for PGMs?
WPIC forecasts 348k oz Pt deficit through 2030. Recycling and weak China downstream add pressures.
What factors are driving platinum's surge?
Pt rose above $2000 on three-week highs, with 30% jump since Jan from deepening deficits, despite EV shift and SA/Russia issues.
How does palladium rally to $1400 look?
Pd's $1400 rally hinges on hybrid demand and geopolitics, not supply scarcity, with potential retest at $1100.
What are 2026 price forecasts for PGMs?
Average Pt and Pd prices may surge in 2026 per Kept, amid market deficits and demand shifts.
What market dynamics affect PGMs?
ETF +234k'25, -13% YTD +95% YoY, SPPP 14.68; China spot disc 5-8 yuan/g, oil/yields, EV transition influence prices.
Pd$1058-1485(-Russia/Nornickel China fibreglass 0.8M oz Apr26 offsets auto)/Pt$1424-1971 near 3mo$2000 lows doubles ₹8k/g cancer drug hikes/WPIC def348k thru2030/ETF+234k'25/-13%YTD+95%YoY/SPPP14.68/Pt excite Pd$1100 retest/EV/SA/Russia/oil/yields/China spot disc5-8yuan/g weak downstream/recycling.