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 0.75, with palladium at $1328.86 and platinum at $1760.27.

Palladium/Platinum Ratio

Compare the relative value of assets over time

XPD

Palladium

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XPT

Platinum

Current Ratio

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Period Change

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Compare the ratio of

Numerator

Denominator

Period High

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Period Low

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Period Average

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Period Range

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(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.