PLTM - PLTM Weekly: Market Not Positioned For South African Supply Disruptions
Thesis
Welcome to Orchid's Platinum Weekly report, in which we discuss platinum prices through the lenses of the GraniteShares Platinum Trust (PLTM).
Although PLTM is little changed so far this month, upside risk is building up due to possible supply disruptions in South Africa in case of a no-resolution of the wage dispute between miners and the main workers' union.
With investor demand continuing to grow due to the value proposition offered by platinum (evident in the historically largest discount of platinum to palladium), a contraction in platinum output could drive platinum spot