85% of palladium is used in catalytic converters in cars. Most copper is used in commercial products, like pipe and wire. Most nickel is used in steel production. My dad is a farmer and the price of milo is currently higher than corn, which he says has only happened a couple times before that he can remember and it’s usually when China is importing a lot of it. So, if it’s not simply inflation pushing all of these prices up, my guess is China is buying a lot to ramp up their production engine again. They got through this pandemic very early and thus have a head start on the rest of the world. If I were them and in a competitive spirit, I would use this time to leverage everything I had to push the economy higher and become the leader in the world.
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