When did palladium overtake platinum?

Palladium overtook platinum around 2017 due to surging demand from gasoline-vehicle catalytic converters combined with chronic supply deficits. The palladium-platinum ratio crossed 1.0 and has spent significant time above it since.

Why are automakers substituting between the two?

When palladium trades at a large premium to platinum, automakers have an incentive to engineer catalytic converters that use platinum where possible. This substitution is technically demanding but provides a long-run cap on the palladium-platinum ratio.

The current palladium-to-platinum ratio is 0.76, with palladium at $1367.80 and platinum at $1792.53.

Palladium/Platinum Ratio

Compare the relative value of assets over time

XPD

Palladium

—

XPT

Platinum

Current Ratio

—

Period Change

—

Compare the ratio of

Numerator

Denominator

Period High

—

Period Low

—

Period Average

—

Period Range

—

(High − Low)

Palladium/Platinum Ratio

Historical ratio over selected time period

About the Palladium to Platinum Ratio

What is the Palladium/Platinum ratio?

The palladium-to-platinum ratio tracks the relative value between these platinum group metals. Palladium became more valuable than platinum around 2017.

Why is this ratio important?

A ratio above 1.0 indicates palladium is more expensive than platinum, reflecting strong gasoline vehicle demand or platinum substitution opportunities.