The price of palladium has reached a 5-year low over the last week as the longstanding trend of substitution has manifested, seeing platinum used increasingly as the catalyst material for catalytic converters in internal combustion engine vehicles. This is despite further sanctions being placed on Krastsvetmet JSC, a subsidiary of Russian producer Norilsk Nickel PJSC (NorNickel) from the UK government. Natural gas prices on the TTF have fallen following an increase of natural gas flows from Norway to Western Europe with the former’s facilities running close to capacity, in contrast to the outages and maintenance issues of the previous few months. Norway has no planned maintenance on its main pipelines up until February 2024, and so should be able to…