Palladium prices rose 31% in 2025 while a U.S. tariff petition on Russian imports adds uncertainty. Supply risks and speculative trades intensify volatility. Palladium climbed 31% year‑to‑date amid tight supply and low liquidity. Sibanye‑Stillwater has filed a U.S. petition for tariffs on Russian palladium imports, setting the stage for intensified volatility and trade disruptions. Sibanye‑Stillwater formally requested that U.S. authorities impose tariffs on Russian palladium imports, citing below‑market pricing and alleged dumping by Nornickel. Russia supplies roughly 40 % of global mined palladium, and its ... (full story)