Sibanye-Stillwater bullish on US anti-dumping petition

THERE was a “reasonable indication” the US palladium industry had suffered material harm as a result of Russian imports of the metal.This was the outcome of a preliminary hearing in mid-August and September 12 in which the US International Trade Commission delivered an unanimously decision, said Richard Stewart, CEO of Sibanye-Stillwater.In July, Sibanye-Stillwater said it had filed the petitions with the ITC claiming Russian palladium imports had been sold below market prices starting just after the nation invaded Ukraine in 2022.“There is a reasonable indication that the US palladium industry is materially injured by reason of imports of unwrought palladium from Russia,” said Stewart citing the ITC’s decision. The US Department of Commerce’s final decision on Sibanye-Stillwater’s petition is expected to be announced at the end of March 2026 “at the earliest”, said Stewart.An ITC hearing is expected to occur in the same timeframe. “The ITC’s final phase investigation should conclude in late May 2026. It should be noted that these deadlines may be extended in the event of a prolonged shutdown of the US government,” he said.From 2021 to 2024, US palladium supply from mining declined 27% and recycling supply fell 30%, the South African miner said previously. Over the same three year period, US palladium imports from Russia increased 34%. In 2025, imports have increased again, by 30%.US trade data suggests that Russian sales had not been below market prices, said the World Platinum Investment Council in its assessment last month. But it also pointed out that US authorities would most likely focus on the fact Russian exports benefited from production subsidies at home.The open question is whether anti-dumping duties would significantly impact palladium which has already recorded a 60% price improvement this year.The WPIC said that Russian palladium exports would be replaced by US production and recycling – but only over time. This would provide for some “upwards pressure” on the palladium price in the short-term.For palladium to benefit in the long-term, broader G7 sanctions would have to be applied on Russian palladium exports “to drive a structural deficit and materially higher price environment”, said Steven Friedman, an analyst for UBS. This is especially true given the scope for rerouting of the metal to other markets, such as China.There is also a question mark over when potential duties would be applied. The WPIC assumes this will be in December or January depending on when the US Government shutdown was resolved.The post Sibanye-Stillwater bullish on US anti-dumping petition appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com