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ANGPY - Ukraine Invasion Could Rocket Anglo American Platinum
Anglo American Platinum Ltd ADR
43% of the world's Palladium comes from Russia, and around 20% of the world's platinum.
With the Russian invasion of Ukraine being even more full-scale than expected, sanctions are coming hard for Russia.
We expect PGM supply from Russia to be essentially deintegrated from the rest of the world's economies and auto producers.
While it'll be hard to keep Russian PGMs out of the market completely, supply has been meaningfully cut as of yesterday, and Anglo American Platinum stands to benefit.