Bearish
UBS cuts palladium forecast to $1,100 amid waning investor interest and China demand
UBS has reduced its 12-month palladium price forecast to approximately $1,100 per ounce, citing diminished investor appetite and a significant decline in Chinese demand. The bank noted a sharp drop in China's palladium imports, from nearly 8.6 metric tons in April to just 3.4 metric tons in September, signaling weaker industrial consumption in a key global market.
Key points
- UBS lowers palladium price forecast to $1,100 due to reduced investor interest and declining Chinese demand.
- Palladium's widening price discount to platinum may encourage substitution in automotive catalysts, potentially supporting demand.
Sources
AI-generated from public news sources. Not financial advice.
