ZeroHedge writes: When on 7 March, the London Bullion Market Association (LBMA) suspended 6 Russian precious metals refiners from the London Good Delivery Lists for Gold and Silver, and in the process blocked from the London market any new gold and silver bars produced by these refiners, one unanswered question was whether the London Platinum and Palladium Market (LPPM) was going to follow suit and also suspend Russian precious metals refiners from its Good Delivery Lists for Palladium and Platinum.
Turns out they didn’t, because that would’ve been too painful. This shows you how important platinum & palladium really are.
As mentioned before, platinum is one of the commodities with a centralized supply and a very decentralized demand.
It’s not only the production of cars that is dependent on these two precious metals. Banks, traders, exchanges, refiners, and many other institutions that cannot afford to have the flow of said metals cut off.