Palladium prices are slumping as a steadier political landscape in eastern Europe allays concerns about supplies and a stronger U.S. dollar curbs interest from foreign investors.

Just last month, traders sent palladium futures to a 13-year high in anticipation of supply disruptions, as the U.S. and the European Union threatened further sanctions against Russia for its support of separatists in Ukraine. Russia is the world's largest producer of palladium, accounting for about 40% of global output.