Palladium rises on prospects of global supply shortage

Palladium prices rose today as the dollar index held ground, amid prospects of a supply shortage of the metal in about 15 years. 

CEO of the Anglo American Platinum, the world's top producer of the metal, said the market will face a severe shortage of supplies in 10 to 15 years. 

That comes as mining companies continue to ignore focus on mining palladium and only get it usually as a secondary product with gold, silver, and copper. 

Palladium is used as a car component and in diesel to cut environmental pollution. 

As of 15:03 GMT, palladium futures rose 0.4% to $1,335.8 an ounce, with a session-high at $1,344, and a low at $1,327.7. 

The dollar index steadied at 96, with a session-high at 96.04, and a low at 95.8.