CA - Palladium: 4 Reasons Why We See A Big Short Squeeze

Summary

• Palladium positioning is at extreme short levels not seen in the past decade.
• While Palladium's long-term future has big question marks, we think short term, there are good fundamental reasons for a price rise.
• South African palladium mine production faces significant risks due to electrical grid issues.
• 2023 Vehicle production is scheduled to grow and that entails greater usage of Palladium and Platinum with India potentially surprising to the upside based on Strong January Auto sales.
• The New US Tariff on Russian Aluminum may cause a response from Russia to limit Nickel and Palladium to the US further cutting supply.

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