The highest price of palladium is 2022. In March 2022, supply concerns caused by the conflict between Russia and Ukraine pushed the price of palladium to a record high of $3,380.50. The price of palladium rose from a low of less than $500 per ounce at the beginning of 20 16 to an all-time high in March 2022. In August 2023, it fell to the latest low, slightly higher than $65,438+$0.200 per ounce. On August 22nd, 2023, the New York Mercantile Exchange's palladium futures due in September fell to a low below $65,438 +0.275. Major producing areas of palladium: Russia and South Africa dominate the global palladium production. Of the total output of 2 10 tons in 2022, the output of the two countries accounts for 80%, and the output of Russia is about 8 tons more than that of South Africa. In Russia, palladium is a by-product of nickel production in Norilsk, Siberia. In 2022, the global output of gold, the main precious metal, was 36 12 metric tons, while the output of palladium was less than 6% of that of gold. Palladium has many industrial uses: palladium is very precious, but its characteristics make it an important industrial metal. Palladium is the most commonly used catalytic converter. Palladium is also needed for jewelry, dentistry, watchmaking, blood glucose test paper, airplane spark plugs, surgical instruments and electrical contacts. Palladium has other uses, including concerts or classical flutes. In view of the low output and industrial nature of palladium, the investment demand of palladium market is not great.