There is more to the fundamental analysis of commodities than meets the eye. In many a case, barely looking at the headline numbers of supply and demand is not enough. If possible, investors need to examine supply and demand in greater granularity because the devil is in the detail.
Below, I take an under-the-hood look at the demand situation of platinum group metals (aka, PGMs), specifically palladium (PALL), platinum (PGM), and rhodium, in an attempt to glean implications for investors interested in PGM commodities and stocks.
Different types of demand
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