Palladium Price is battling for the “spot of most precious metal on the earth”.
The hottest metal of the year 2018 is Palladium. But why? Palladium is mostly used in gasoline vehicles “to control the pollution caused due to the exhaust gases”.
The order and cost for the Palladium is skyrocketed while demand for hybrid electric vehicles increased across the Europe and China.
The current palladium price for 10gm (INR28950) is reaching equal to 10gm of Gold.
Palladium price Hyped?
The diesel vehicles demand is slowing down in Europe and China. All the major European cities including Berlin, London and Paris have launched diesel car ban programmes to fight pollution.
So, the platinum cost went down almost 28% in 2016.
This article Emailed on, Thursday, December 31, 2018 to our Newsletter subscribers at 7 Am IST.
70% of Platinum used in diesel vehicles as a catalyst to react with the pollutants and helps purify the exhaust gases.
The newer policies placed by Europeans and Americans with the help of other countries which includes India, China, Japan will help to boost the control of Carbon emission.
Automakers are testing platinum family member palladium as a better alternative.
Palladium gives more accurate results and cleaner exhaust throughout all laboratory tests and ready to use in hybrid vehicles.
The Palladium price makes itself a nonviable option for the mass produced gasoline vehicles.
Hence, automakers are finding out another low cost sustainable solution to replace the precious metal.
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