The price of an ounce of palladium for the first time rose above $1,400 on Thursday. According to Bloomberg, despite the fall in demand for the metal, since mid-August, the value has increased by more than 65%. During trading, the value of palladium rose by 5.4% and managed to reach $1,439.29 per ounce. Metal is necessary for the production of filtration systems for car exhaust. Despite the decline in car sales in China and the EU and low economic growth in other markets, the palladium market did not feel a restraining influence. Commerzbank analysts are signaling a reason to buy metal: in South Africa, strikers are entering platinum mines. Metals Focus Ltd. believes that the shortage of palladium will continue this year.
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