Price drop of precious metals used in auto industry temporary, may rebound soon

摘要

After a scorching bull run in the last 2 years when prices of precious metals platinum, rhodium and palladium- surged multi-fold, Covid-19 has destroyed demand, pulling prices down. The recent decline in prices of these metals, while still much higher than their levels two years ago, is temporary and will boom again as demand returns, experts said. Data from S&P Global Platts suggests over 80% of demand for rhodium and palladium comes from the automotive industry. Implementation of stricter BS-VI emission norms, which come into effect in India from April 1, will drive up usage and price of these rare metals, they said.