# Palladium's 2025 Outlook: What's Next After Years of Decline?
Palladium has been under pressure since its US$3,002/oz peak in February 2022. The metal spent most of 2024 trading sideways between US$900–US$1,100, with a brief spike to US$1,200 in October amid US sanctions threats on Russian supplies.
Here's the catch: 80% of palladium demand comes from auto catalytic converters, but the sector is facing headwinds. While overall car sales are projected to rise 1.7% to 89.6M units in 2025, electric vehicles—which don't need palladium—are eating into that share. EV penetration is expected to re
Palladium has been under pressure since its US$3,002/oz peak in February 2022. The metal spent most of 2024 trading sideways between US$900–US$1,100, with a brief spike to US$1,200 in October amid US sanctions threats on Russian supplies.
Here's the catch: 80% of palladium demand comes from auto catalytic converters, but the sector is facing headwinds. While overall car sales are projected to rise 1.7% to 89.6M units in 2025, electric vehicles—which don't need palladium—are eating into that share. EV penetration is expected to re

