Thomson Reuters GFMS' recently released Platinum & Palladium Survey 2013 reveals that palladium recorded its highest deficit in 11 years in 2012 and is likely to remain in deficit this year.
Nick Brooks of ETF Securities revealed that investors are moving out of gold ETFs to focus on more cyclical metals like palladium.
A brief overview of palladium price developments, supply and demand and significant market movers.
Data regarding key Russian palladium sources appears to support deficit forecasts.
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) provided an update on its Brazil-based, 75-percent owned Serra Pelada gold-platinum-palladium mine, commenting that the mine is on track to begin production of 250 metric tons per day in Q3 2013.
The Globe and Mail reported that Raymond James analyst Alex Terentiew has downgraded North American Palladium Ltd. (TSX:PDL,AMEX:PAL) to "market perform" from "outperform," while Sam Crittenden, an analyst at RBC Dominion Securities, moved his rating from "sector perform" down to "underperform."
Stillwater Mining Company (TSX:SWC.U, NYSE:SWC) announced its first quarter income attributable to common stockholders, which amounts to $14.6 million, or approximately $0.12 per share.
Noront Resources Ltd (TSXV:NOT) announced that pursuant to a loan agreement between the company and Resource Capital Funds V L.P., it has paid interest for the first quarter of 2013 through the issuance of 474,941 common shares at a price of $0.2942/interest share to RCF.
MetalMiner reported that the US palladium bar price increased by 4.6 percent this week, the third week in a row that the price of the metal has risen.
MetalMiner reported that yesterday, Chinese palladium bar prices fell by 5.7 percent, while prices for US palladium bars went up by 1.7 percent.
Mining Weekly reported that Norilsk Nickel OAO (MCX:GMKN), the world's top palladium producer, thinks that in 2013 the palladium deficit will rise 25 percent on the back of falling supplies. That will bring the deficit up to about 1 million troy ounces.
InvestorPlace reported that because palladium tends to trade in tandem with auto stocks, auto stocks can indicate — sometimes weeks ahead of time — what the ETFS Physical Palladium Shares (ARCA:PALL) will do next.