Palladium futures traded below $1900 per tonne, the lowest in nearly 6 months and down more than 40% from its all-time high of $3180 hit in March, as aggressive rate-hikes by central banks around the world spurred fears of recession and in turn a lower demand. At the same time, concerns of weak demand recovery from top consumer China weighed as China re-imposed fresh lockdowns in key cities amid a fresh burst of covid infections.
Historically, Palladium reached an all time high of 3440.76 in March of 2022. Palladium - data, forecasts, historical chart - was last updated on June of 2022.
Palladium is expected to trade at 1743.27 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1543.38 in 12 months time.