I need to flag that the palladium exposure here is looking weak against the automotive cycle, and that's ma…by @pedant_pete on $SSW

I need to flag that the palladium exposure here is looking weak against the automotive cycle, and that's material given how much of the PGM basket depends on convertor demand. At 35.88 the market's priced in a fair bit of pain already, but the operational gearing on load-shedding costs keeps biting harder than most seem to factor. If platinum holds above 900 and they get some relief on power, there's a case here, but that's not where the conversation is heading.