The English chemist and physicist W.H. Wollaston (1766-1828) isolated the metal from platinum and gave it the name palladium. It is a silvery-white metal: when it was first discovered it was known as new silver.
Palladium is strongly resistant to corrosion in air and to the action of acids
Demand for palladium is high. Difficulties of supply In Russia, the main producer of the metal, caused prices to triple between December 1996 and May 1998. Palladium went on to achieve record high prices in world markets in 2001 and 2002.