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Palladium Price — 10-Day Trend
All prices in ₹ per gram · daily rate, updated once per day
One Company, an Outsized Grip on Global Supply
Norilsk Nickel — Nornickel for short — is widely described as the world's largest palladium producer, and the scale isn't subtle: the company accounted for 41% of global output in 2019 alone, totaling 2.9 million ounces. Today's palladium reference rate is ₹2,980.70 per gram on November 2, 2026, a market where one Russian company's operating decisions carry genuinely outsized weight.
- Norilsk Nickel's 2019 share: 41% of global palladium output (2.9 million ounces)
- Russia's 2026 forecast production: roughly 2.6 million ounces
- Global 2026 primary production forecast: approximately 6.1 million ounces
Palladium Price by Weight
Today's Palladium rate is Two Thousand Nine Hundred and Eighty One Rupees per gram. At this rate, 10 grams of Palladium costs Twenty Nine Thousand Eight Hundred and Seven Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹2,980.70 | Two Thousand Nine Hundred and Eighty One Rupees |
| 8 Grams | 8.0000 g | ₹23,845.63 | Twenty Three Thousand Eight Hundred and Forty Six Rupees |
| 10 Grams | 10.0000 g | ₹29,807.04 | Twenty Nine Thousand Eight Hundred and Seven Rupees |
| 100 Grams | 100.0000 g | ₹298,070.35 | Two Lakh Ninety Eight Thousand Seventy Rupees |
| 1 Kilogram | 1,000.0000 g | ₹2,980,703.54 | Twenty Nine Lakh Eighty Thousand Seven Hundred and Four Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹84,501.46 | Eighty Four Thousand Five Hundred and One Rupees |
| 1 Troy Ounce | 31.1035 g | ₹92,710.31 | Ninety Two Thousand Seven Hundred and Ten Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹2,980,703,540.00 | Two Hundred and Ninety Eight Crore Seven Lakh Three Thousand Five Hundred and Forty Rupees |
Palladium Is a Side Effect of Nickel, Not the Main Event
Here's the detail that explains a lot of palladium's price behavior: Norilsk Nickel's core business is nickel, not palladium. Palladium comes out of the same ore as a byproduct, which means Russian palladium output tracks nickel-mining economics and ore grades as much as it tracks palladium demand or price. A company can't simply decide to mine "more palladium" — it mines more nickel-bearing ore, and palladium comes along for the ride at whatever grade the deposit happens to yield.
Ore grade is a real, physical constraint right now
Global primary palladium production is expected to fall about 2% year-on-year in 2026, and lower ore grades in Russia are cited as one of the pressures behind that decline — a genuine geological limit, not a market or policy choice. When the same tonnage of ore yields less palladium than it used to, no amount of price incentive fixes that immediately.
| Metric | 2026 Forecast |
|---|---|
| Global primary production | ~6.1 million ounces |
| Russian production | ~2.6 million ounces |
| Demand (excluding investment) | ~9.1 million ounces |
| Total supply | ~9.4 million ounces |
Palladium Price — Last 10 Days
The most recent Palladium price on record (2026-11-02) is Two Thousand Nine Hundred and Eighty One Rupees per gram.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-11-02 | ₹2,980.70 | 0.00 |
| 2026-11-01 | ₹2,980.70 | -0.65 |
| 2026-10-31 | ₹2,981.35 | -6.96 |
| 2026-10-30 | ₹2,988.31 | -90.46 |
| 2026-10-29 | ₹3,078.77 | -44.67 |
| 2026-10-28 | ₹3,123.44 | -36.58 |
| 2026-10-27 | ₹3,160.02 | -80.31 |
| 2026-10-26 | ₹3,240.33 | +52.57 |
| 2026-10-25 | ₹3,187.76 | -3.26 |
| 2026-10-24 | ₹3,191.01 | — |
What Norilsk Nickel Itself Is Forecasting
The company's own outlook points to a global palladium surplus in 2026 — roughly 300,000 ounces, with demand excluding investment estimated near 9.1 million ounces against supply around 9.4 million ounces. That's Nornickel's own projection, worth noting precisely because the company producing the largest share of the world's palladium has as much visibility into this market as anyone, even though its forecast is naturally just one view among several industry estimates.
The comparison table and 10-day history above track palladium's own price trend. For a longer view, the site's own palladium price history page holds real recorded data by year and month.
Norilsk Nickel and Palladium — FAQs
Norilsk Nickel, also known as Nornickel, is widely described as the world's largest palladium producer, historically accounting for a very large share of global output — 41% in 2019, for instance, totaling 2.9 million ounces. A company of that scale moving in or out of the market shifts the global balance directly.
No — palladium in Russia is produced largely as a byproduct of nickel mining, which is Norilsk Nickel's core business. That means Russian palladium output tracks nickel-mining decisions and ore grades as much as it tracks palladium's own price.
Outsized. Russian palladium production is projected at roughly 2.6 million ounces in 2026, a significant share of a global primary production forecast of about 6.1 million ounces the same year — meaning even a modest percentage change in Russian output can shift the entire global market balance.
Norilsk Nickel itself has forecast a global palladium surplus, projecting roughly 300,000 ounces of surplus in 2026, with demand (excluding investment) estimated around 9.1 million ounces against supply near 9.4 million ounces — though these are the company's own projections and industry balances can shift as the year plays out.
Global primary palladium production is expected to fall slightly in 2026, pressured partly by lower ore grades in Russia — meaning the same mining effort yields less palladium per tonne processed, a real physical constraint on output that no pricing incentive can immediately fix.
