In the run up to 2000, Russian supply of palladium to global market was repeatedly delayed and disrupted because the export quota was not granted on time, due to political reasons. The ensuing market panic buying drove the palladium price to an all-time high of $1100 per ounce, reached in January, 2001. During the time period, the Ford Motor Company, fearing auto vehicle production disruption due to a possible palladium shortage, stockpiled large amounts of the metal, purchased near the price high. As prices subsequently fell in early 2001, Ford lost nearly $1 billion U.S. dollars.
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