The metal, used in pollution-control devices for cars and trucks, broke US$2,000 today, before dropping slightly to US$1,951 in late afternoon trading. (The Logic)

Talking point: Palladium prices are up 59 per cent this year, and are on track for a seventh consecutive quarter of growth. Today’s rally comes amid a supply crunch, as South African mines are facing power outages and follows stalled production in Russia. The metal’s price is also soaring as vehicle manufacturers are using more palladium to meet stricter emissions-testing standards. Another positive sign for the metal is the improved potential of a U.S.-Mexico-Canada trade deal, as well as thawing relations between China and the U.S., both of which could kick off increased auto demand. Canadian firms are among those benefitting. Toronto-based North American Palladium sold for about $1 billion on Friday. In March, White Metal said it was acquiring an Ontario-based palladium-mining project; in August, Generation Mining announced it was looking at opening a new palladium mine on the north shore of Lake Superior.