Russia Palladium Stockpiles May Be Over, Norilsk Says

Russia, the world’s biggest palladium producer, may have exhausted state inventories of the metal, removing a key source of global supply, according to OAO GMK Norilsk Nickel.

Sales from state stockpiles reached 960,000 ounces last year, the third-biggest contributor to world supply after mine output from South Africa and Russia, according to Johnson Matthey Plc. The scale of the government’s stockpiles of the metal used in auto catalysts, electronics and jewelry are a state secret. Norilsk is the world’s biggest producer. (more)