Keep An Eye On Your Catalytic Convertor - Palladium Prices Are Going Through The Roof!

The Russian invasion of Ukraine, now approaching its second week, continues to have unexpected global consequences. Now its impact can be seen on the price of raw materials that are heavily exported by Russia, especially palladium. The exceedingly rare metal is crucial in exhaust-purifying catalytic converters, and this week, it hit an all-time high price of $3,400.76 per ounce before settling down to roughly $3,000 an ounce on Tuesday.

That price spike on Monday surpassed the record set last year by over $400 an ounce. Russia is the largest single-country supplier of the extremely rare metal in the entire world, exporting around 100 tons of it in 2021.

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