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This is your Daily Palladium Price Tracker with Vanessa Clark podcast.
Hey there, I'm Vanessa Clark, and welcome back to the Daily Palladium Price Tracker. I'm so glad you're here with me today. Let's dive right into what's happening in the palladium market right now.
So here's the snapshot from today, February sixteenth. Palladium is trading at one thousand seven hundred sixty eight dollars per ounce, and it's having a really strong day. We're seeing some serious upward momentum, which is honestly pretty exciting if you're following this market closely.
Now, you might be wondering what's driving this rally. Well, there are a few key things going on. First, palladium is what we call headline sensitive. This metal can move really sharply, especially when liquidity gets thin or when trader positioning gets crowded. It's one of the most volatile major metals out there, so big moves aren't unusual. But today's push higher is backed by something more fundamental.
The real story here is supply. According to industry forecasts, the palladium market is expected to remain in deficit in both twenty twenty five and twenty twenty six. Nornickel, which is the world's largest palladium producer, is estimating a market deficit of around one hundred thousand ounces for this year. That's tight supply, and tight supply supports higher prices.
Here's where it gets interesting geopolitically. Russia produces roughly forty percent of the world's palladium, but thanks to ongoing sanctions related to the Ukraine conflict, trade flows have been disrupted. On top of that, the U.S. just imposed duties of one hundred thirty two point eighty three percent on Russian palladium imports. That's a massive tariff that's essentially reshaping the global supply chain.
What this means for prices is that buyers are scrambling to find alternative sources of palladium. Non Russian supply is suddenly more valuable. The market is also watching recycling very closely. If recycling doesn't ramp up as expected, the market reprices quickly because that's a key swing factor for whether we stay tight or move toward surplus.
Don't forget automotive demand either. Palladium is essential for catalytic converters in gasoline and hybrid vehicles. Europe recently softened its approach to its twenty thirty five combustion engine ban, which means more cars will stay on the road longer, keeping that demand steady and supporting prices.
Looking at the technical picture, palladium is trading above its one hundred day moving average, which suggests an uptrend is in place. If we see a pullback, the next support zone is between one thousand three hundred fifty and one thousand four hundred fifty dollars per ounce.
The bottom line for today is that we're seeing strong palladium trading driven by tight physical supply, geopolitical supply concerns centered on Russia, and solid automotive demand. These are the kind of fundamentals that can keep prices elevated.
Thanks so much for tuning in to the Daily Palladium Price Tracker. Make sure you subscribe and join me tomorrow for the latest palladium market update. I'll be here covering price moves, market drivers, and what it all means for you. Until next time, stay informed and keep tracking palladium.
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