Palladium Market Reacts to Ukraine Turmoil
Fears Pandora Silver Crystal Heart Charm Bracelet Purple that sanctions targeting Russia may impact the palladium market have sent prices for the platinum group metal (PGM) to their highest level in a year.
Russia is the world's largest producer of palladium, thomas sabo stores which Pandora Murano Glass Bead 095 is used to produce Pandora Silver Crystal Heart Charm Bracelet Purple autocatalysts and multi layer silver tiffany bracelets Pandora Silver Crystal Heart Charm Bracelet Purple ceramic capacitors, as well as jewellery and dental alloys.
Norilsk Nickel, the world's largest nickel producer, extracts palladium as a by product from it's nickel mines in Russia as well as from mines in Botswana and South Africa. The company accounts for about 40 percent of primary refined palladium production.
Prior to Russia's move into the Crimean peninsula, the market for PGMs had already been moving higher due to an ongoing strike in South Africa that has seriously impacted output Pandora Silver Crystal Heart Charm Bracelet Purple Pandora Silver Bead Shine Silver from the world's second largest source of palladium.
Since the start of the year palladium metal prices have increased nearly 8 percent to around US$ 785 per troy ounce. Nearly half of 2012 Pandora Crystal Bead 037 this price gain Pandora Silver Crystal Heart Charm Bracelet Purple has come in the last week.
If trade restrictions limit Russian supplies of the metal, an already existing supply shortage will be exacerbated and likely drive prices much higher.