Palladium
Description
Palladium is the lightest of the PGMs and has the lowest
melting point. It is a grey-white metal, which is extremely
ductile and easily worked. Palladium is not tarnished by the
atmosphere at ordinary temperatures, leading to its use in
jewellery.
Major sources of supply
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Russia supplies approximately two thirds of the world's
palladium from mine production and stockpiles.
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South Africa is the second largest supplier, supplying
a quarter of the world's palladium. South Africa has increased
its supply by approximately 29% over the past five years.
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The Stillwater mine, located in the USA, is the world's
only primary palladium producer.
Major applications.
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The biggest use of palladium is in autocatalyst, together
with platinum and rhodium, where palladium is particularly
active against emissions of hydrocarbons from exhaust gases.
Its use in this application has been growing at the expense
of platinum.
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Palladium is also used in jewellery, dentistry and electronics,
particularly capacitors.
Historical Prices
A combination of sporadic Russian supply and increasing demand
has led to a strong increase in the palladium price since
early 1997. Prolonged delays in export licences being granted
by Russian authorities has led to erratic supplies from the
dominant source of palladium supply. Demand for palladium
in autocatalysts and electronics has increased strongly during
the 1990s.
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