Palladium and Battery Raw Materials
Tuesday 10th September, The Penn Club, New York
SFA (Oxford’s) 2019 New York Palladium Standard event was headlined by Nornickel and was by far the most popular event to date with a wide cross-section of the industry represented including mining companies, recyclers, fabricators, automakers, other industrial end-users, companies involved in ruthenium and iridium use, and of course Manhattan’s investment community and global trading houses. A thought-provoking presentation on the key issues facing palladium and other PGMs was presented by SFA’s Director of Research. SFA made a big call that palladium prices would rise to $1,500/oz in 2019 at the previous year’s event when palladium was sub-$1,000/oz. Having hit $1,500/oz, some of palladium’s supporting drivers went into reverse. Chinese car sales were softening, palladium lease rates were well off their highs, yet the market remained in deficit and the price in backwardation. SFA examined the current market and the impact of $1,500/oz palladium prices on end-users and suppliers alike to provide an indication of where the palladium market and prices are heading.
Attendees were also treated to the first taste of SFA’s new report from our Battery Technology Analyst, the Battery Raw Materials Quarterly. This initiative started at our fund clients’ request which, in light of the rapid rate of change in battery technology and powertrains, provides regular market intelligence on key quarterly trends and analysis of their effect on the supply, demand, pricing and market implications for lithium, cobalt, and most recently nickel, over the next five years. This report is coexistent with and linked directly to SFA’s PGM work and market view, as we provide equilateral thinking on the powertrains of the future and assess the impact on key metals.
Our guest speakers
Denis Sharypin, Head of Market Research, Nornickel
Denis Sharypin has worked for Norilsk Nickel for 10 years and leads Nornickel's market research of Nickel, Copper and Precious metals, and covers metal price forecasting for strategic planning and marketing.
Denis has two degrees (with honours) from Moscow State University and the Graduate School of Toyo University in Tokyo, Japan.
Away from Nornickel, Denis is the Chairman of INSG Statistics Committee, Representative director at the Nickel Institute and a representative member of the International Platinum Group Metal Association.
Already the world’s largest producer of palladium at close to 40% of the primary supply, Nornickel’s latest strategy is to extend its lead by growing output by up to 25% by 2025. Clearly, the company believes in strong fundamentals for palladium (and nickel).
Beresford Clarke, Director of Research, SFA (Oxford)
Beresford’s principal remit is to service SFA (Oxford)'s wide range of clients worldwide. He has responsibility for the analyst team, product delivery and innovation, and is the lead research author. Beresford has been a metals market analyst for 13 years, covering platinum-group metals on a daily basis on behalf of clients, but also providing in-depth analysis on the lithium, cobalt, gold and other commodity markets.
Lakshya Gupta, Battery Technology and Materials Analyst, SFA (Oxford)
Lakshya joined SFA (Oxford) after completing his Master’s in Chemical Engineering from Imperial College London. He is currently working on comprehensive due diligence studies in battery materials, technologies and associated metals (cobalt, lithium, nickel).
Palladium's decade, then decay?
Beresford Clarke presented the fourth issue of The Palladium Standard. This highly sought-after publication provides SFA’s market view and collates all the key industry data and indicators for the past 12 months.
History of our New York PGM events
Since SFA (Oxford)'s first New York event in 2014, it has become an annual staple of the New York Platinum Week calendar. Here you can read up on the history of SFA's annual state-side event that brings together individuals from companies representing the entire platinum industry value chain.