🔴 Palladium is trading 3% down today on Johnson Matthey forecast of first surplus in 13 years

PA=F is trading at $1461.50 (-3%) on a bearish surplus forecast from Johnson Matthey's 2026 PGM Market Report.

• The report predicts a small palladium surplus this year, ending a 13-year supply deficit (2012-2025) as demand for gasoline-powered vehicles continues to decline.
• The downward move is specific to the PGM sector, as the broader market is trending higher with the S&P 500 up 0.43% and the Nasdaq up 0.49%.
• This shift in market dynamics serves as a major catalyst ahead of the upcoming London Platinum & Palladium Market Week.