Mining News

Palladium soars as Russia tension sparks investor rush for metal

Palladium soared to the highest in four months, with traders looking to secure supplies amid growing tensions over Ukraine as Russia, the top metal producer, amassed troops near the border. The metal that’s mostly used in catalytic converters rose as much 8.3% on Wednesday, extending this year’s rally to almost 25%. Tensions between Russia and the West over Ukraine have heightened concerns supplies may be disrupted, according to Henrik Marx, global head of trading at Heraeus Metals Germany GmbH & Co.

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