Palladium vs. Platinum

The Battle for Catalytic Converters Amid U.S. Sanctions on Russian Metals

The U.S. government is tightening the screws on Russian palladium imports, a key metal for catalytic converters in the automotive industry. This new round of sanctions on Russian metals, including palladium, copper, aluminum, and nickel, aims to further limit Russia’s influence in global commodity markets. But for many automakers, who already shifted from palladium to platinum at a high cost in recent years, there’s little chance they will retool back to palladium. This makes platinum the better long-term bet, especially as Russia’s palladium supply faces uncertainty.