Related: 2017 End of Year Market, ETF Outlook

“The main reason behind palladium’s overtaking platinum lies within the development course the global automotive industry has taken,” according to OilPrice.com. “Whilst palladium is used primarily in gasoline cars, palladium’s sister metal platinum is generally applied in diesel cars – following Volkswagen’s diesel emission scandal and shattered confidence in Diesel cars (most notably in Europe where the market share of once-prevailing diesel cars has fallen below 45 percent) the two metals have been moving into opposite directions.”

Palladium demand is growing on an international scale, but, and this is important for PALL, supply is again having problems meeting that demand. The global palladium market has been in a supply deficit for six consecutive years.

For more information on the metals market, visit our precious metals category.