Palladium: The Strategic Importance Of One Of Russia’s Rarest Exports

Palladium: The Strategic Importance Of One Of Russia’s Rarest Exports

The idea of taking action against Russian palladium exports has recently been broached in the US Congress.

So what makes palladium so important?

Electronics And Industry

Palladium is widely used in electronics and in the automotive industry. Due to its properties, palladium is used in electroplating, as well as in the manufacturing of military and aerospace equipment.

Commodity Market

Palladium bullion is traded as a commodity and even has its own ISO currency code, just like gold, silver and platinum.

Future Tech

Its ability to absorb large amount of hydrogen make palladium a viable candidate for the development of hydrogen fuel cells, while the metal’s conductive properties may also suggest an application in quantum computing.

Rarity

Palladium is one of the rarest elements in the world. Five countries – Russia, South Africa, the US, the UK and Italy accounting for nearly three-quarters of the global exports.

Russian Supremacy

Russia currently reigns as the world’s top producer of palladium, accounting for over 40% of the global production and nearly a quarter of the metal’s total exports.

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