Core Viewpoint - Palladium futures experienced a rapid increase, with the main contract peaking at 476.50 yuan, closing at 474.25 yuan, reflecting a rise of 5.68% [1] Group 1: Market Analysis - New Lake Futures advises against heavy positions in palladium futures due to ongoing supply shortages and low inventory levels, which are below multi-year lows. The concentration of supply, particularly with Russia accounting for over 40% of global production, poses geopolitical and trade risks [2] - Tianfeng Futures suggests a range-bound trading strategy for palladium, attributing the recent rebound to technical corrections after previous highs and improved market sentiment during the holiday period. However, the market is characterized by high volatility and uncertainty, with caution advised for traders [2]