China began to export palladium (but not much)

Kommersant writes that China suddenly began to export palladium, while the metal is not mined in China. The price of the issue on the scale of Norilsk Nickel is small, so even if it is a metal from the MMC, it is too early to rejoice. The company produces 2.6 million ounces per year, and exports from China in the first 5 months of the year amounted to only 5.2 thousand ounces. At the same time, the export of palladium from Russia to China decreased by 2 times over 5 months and this is only 56 thousand ounces. The reason for the reduction in supplies is the growth in the production of electric vehicles in China, where platinoids are not needed.

In general, we do not know whose palladium China exports – Russian or African, but the fact is that the volume and price of the issue are not so significant as to have an impact on MMC shares.

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