RE:RE:Pd futures and spot up ~$100 today to ~ $@2768Industrial buyers are likely sitting on small piles of Pd by now to keep them going (i.e., stock piling in anticipation that the price would go up in the run up to the war.)
But who knows, it all depends on how long the disruption will last. There is also a far away place called China that doesn't GAF...
Have you seen any Pd streaming deals in the past few weeks/months? This could be good indicator of where metal markets think the price is headed in the medium/longer term.
The longer it takes to get Russian Pd deliveries back on track (Russia controls 40%+ global supply), the higher the price will potentially go. As far as I can predict based on previous incursions, Russia is not in this for the long run but just to get concessions. Could be over sooner than later.
And then, there's this:
https://www.forbes.com/sites/salgilbertie/2022/02/22/top-producer-russia-will-benefit-from-higher-palladium-and-platinum-prices/?sh=714c269211b2
Even if economic sanctions and boycotts against Russia are implemented by the US, the EU, and their allies, there will still be plenty of buyers (think China) ready to scoop up the much needed materials for use in catalytic converters, medical supplies, electrical components, and, of course, jewelry.
...
High prices will eventually result in more supplies of the two precious metals, and other major producers like Zimbabwe and Canada will likely increase their rates of production over time and benefit greatly from the sustained and increasing demand for Platinum and Palladium as well.