铂族金属展望：突破-Platinum Group Metals Outlook_ Breakout

Palladium up with platinum but also needs to correct Palladium prices have rallied in sync with platinum, rising from USD926/oz since our last Outlook in April to USD1,338/oz as of writing. Like platinum, we believe the rally reflects underlying bullish fundamentals, but the speed and veracity of the move requires a correction. Auto demand is slated to decline due to EV encroachment, sluggish underlying auto output, and tariffs. Other forms of industrial demand are steady. Investor sentiment is positive but ...