Palladium weekly special report based on 1.00 Lot Calculation:
PALLADIUM: USE AND MARKET SHARE
- Palladium is mostly used in catalytic converters by the car industry to reduce harmful gas emissions, while tightening regulations are forcing automakers to put more Palladium into each vehicle, which in turn could keep the demand outlook positive. Palladium has also been used in fuel cells to generate power.
- MARKET SHARE (PRODUCERS): Russia is the largest producer, holding 43% of the market, while South Africa is the second largest with 33.00% of the market. Canada is third on the list with 9.5% of the global production.
- MARKET SHARE (CONSUMERS): China is the largest Palladium consumer with 31%, while Europe and North America (USA) hold 20% each. Japan stands at 11%.
PALLADIUM: MARKET DEFICIT EXPECTED
- SUPPLY REMAINS TIGHT. Palladium supply is limited, with Russia producing a large share of the global output. Geopolitical tensions and sanctions continue to restrict exports. Nornickel, Russia’s main producer, has indicated that output may remain constrained, keeping the market tight and supporting higher prices.
- STRONG AUTOMOTIVE DEMAND. Palladium is essential for catalytic converters in gasoline and hybrid vehicles. Europe’s softened approach to its 2035 combustion-engine ban allows more cars to remain on the road longer, keeping demand steady.
- MARKET DEFICIT (2025 AND 2026): Norilsk Nickel (Nornickel), the world’s largest palladium producer, expects the palladium market to remain in deficit in 2025 and 2026. Overall, the market is projected to post a deficit of around 100,000 ounces in 2026, following last year’s deficit of approximately 200,000 ounces, according to Nornickel estimates.
EVENTS (USA):
- FRIDAY, FEBRUARY 6 AT 13:30 GMT: US NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT RATE (JANUARY). Weaker-than-expected job growth and a higher unemployment rate could boost expectations of U.S. interest rate cuts, weighing on the dollar and supporting precious metals, including palladium.
- WEDNESDAY, FEBRUARY 11 AT 13:30 GMT: US INFLATION DATA (CPI) (JANUARY). A softer-than-expected CPI could increase rate cut expectations and support industrial metals demand, potentially boosting palladium prices.
EVENTS (CHINA):
- WEDNESDAY, FEBRUARY 11 AT 1:30 GMT: CHINA INFLATION DATA (CPI) (JANUARY). A stronger CPI reading would point out to improving domestic demand in China, supporting vehicle sales and industrial activity, which could be positive for palladium prices.
TECHNICAL ANALYSIS:
- PALLADIUM PRICE ABOVE 100-DAILY MOVING AVERAGE: Palladium price has remained above its 100-day moving average, indicating a potential uptrend. The trend could reverse if Palladium price goes below this average.
- SUPPORT AREA: $1350 – $1450. This zone represents its next support area for Palladium prices.
- PALLADIUM HIT AN ALL-TIME HIGH OF $3,409 (March 2022): Palladium price has traded around $1,670, and if a full recovery takes place, the price of palladium could see an upside of around 105%. Although the price could decline as well.
GRAPH (Daily): July 2025 – February 2026
Please note that past performance does not guarantee future results
Palladium, February 2, 2026
Current Price: 1,670
|
PALLADIUM |
Weekly |
|
Trend direction |
|
|
2,500 |
|
|
2,200 |
|
|
1,900 |
|
|
1,450 |
|
|
1,400 |
|
|
1,350 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
PALLADIUM |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
83,000 |
53,000 |
23,000 |
-22,000 |
-27,000 |
-32,000 |
|
Profit or loss in €² |
69,946 |
44,664 |
19,383 |
-18,540 |
-22,754 |
-26,967 |
|
Profit or loss in £² |
60,535 |
38,655 |
16,775 |
-16,046 |
-19,692 |
-23,339 |
|
Profit or loss in C$² |
113,121 |
72,234 |
31,347 |
-29,984 |
-36,798 |
-43,613 |
- 1.00 lot is equivalent of 100 units
- Calculations for exchange rate used as of 11:00 (GMT) 2/2/2026
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.