UBS Raises Palladium Price Forecasts as Supply Constraints Tighten Market Outlook

UBS increased its palladium price targets, raising projections for December 2026 and March 2027 by $200 per ounce each, while boosting its June 2027 forecast by $100 per ounce. The bank attributed the upgrades to tighter physical market conditions and more resilient demand than the bank had previously anticipated.
Palladium consumption patterns have evolved differently than UBS initially projected. Global demand fell only modestly in 2025 and is expected to remain broadly stable in 2026. The tr