As some have pointed out the ~9% palladium price spike doesn't help current non producers directly (i.e, CHN), but what it does do is highlights the geopolitical risk of having supply tied up with a couple of aligned countries. It also gets people looking into the current price foundations for PGM metals and hopefully raises awareness of the current deficit in supply. The long-term gain for CHN may be government/industry support to establish alternative stable PGM supply in less volatile countries, lets see how we go today.
I also suspect that palladium users will be scrambling to secure materials ahead of any sanctions, so price may continue to go up up up.
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