Palladium spot prices fell over 1.5% on May 15, 2026. The decline followed a high-stakes U.S.-China summit that concluded without major trade breakthroughs.
Investors shifted to a risk-off stance, pressuring both industrial metals and equity markets. A strengthening U.S. dollar and rising Treasury yields created additional headwinds for the commodity.
An annual report from Johnson Matthey further weighed on the market. The firm forecasts that the palladium market will shift from a deficit to a small surplus in 2026.