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Russia risks speed up automakers' switch from palladium to platinum, WPIC says
Automakers are accelerating efforts to use less palladium and more platinum due to worries over palladium supply from Russia, the World Platinum Investment Council (WPIC) said on Monday, predicting a large surplus in the platinum market this year. Automakers were already shifting to platinum, which is cheaper than palladium, to save money, but a faster transition would increase platinum demand and could lift prices while having the opposite effect on palladium.Russia accounts for around 25-30% of the world’s supply of palladium and around 8-10% of its platinum. There is no sign that Russian exports have been ... (full story)