[miningmx.com] – PALLADIUM exports from Russia climbed to an 11-month high in April to 2,158 kilograms (kg) ahead of possible sanctions following the annexure of Crimea, Bloomberg News said.
“The rise in exports out of Russia was in anticipation of potential sanctions,’ John Meyer, an analyst for SP Angel told Bloomberg News. “Not just industrial buyers, but investors were all very keen to get ahead of potential sanctions. There still may be sanctions,’ he said.
According to data from the Swiss Federal Customs Administration, palladium exports in March totalled 201kg.
The combination of potential sanctions and a 18-week strike in South Africa, which has curbed output of palladium, has sent the metal to its highest level since 2011, said Bloomberg News.
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