Ford to Sell Off Palladium Stockpiles

After losing over $1 billion on palladium, Ford is planning to sell some of its stockpile of the precious metal.

Palladium is used in catalytic converters for automobiles and is also alloyed with other metals and used in catalysts. Losses accredited to palladium were attributed to two factors, improving technologies and the fact that the value of palladium has dropped significantly to US$400 per troy ounce from US$1500 which Ford paid.

The selling off of palladium stockpiles is just part of a global plan to turn around the fortunes of the car manufacturer which have been on the decline for some time.

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