Palladium prices fell on Friday, May 15, following a two-day summit between U.S. and Chinese leaders. The meeting failed to provide new catalysts for industrial metals demand or trade stabilization. This outcome prompted a reassessment of the global manufacturing outlook.
The lack of immediate stimulus impacted the automotive sector, which is the primary consumer of palladium for catalytic converters. A strengthening U.S. dollar and rising Treasury yields further pressured the precious metals complex.
One market report showed palladium falling nearly 5% during the session. The price dropped to $1,430 per ounce from $1,501 the previous day. Another source recorded a 0.8% decline. This secondary report placed the price at $1,425.50.