ความอ่อนแอต่อเนื่องของแพลเลเดียม - ความต้องการทางอุตสาหกรรมหรือการทดแทน?

It's definitely a mix of both, but I lean more towards the substitution gaining serious momentum. Manufacturers aren't waiting around for palladium to rebound when platinum is a viable, cheaper alternative right now.

I think you're spot on with the industrial demand being a major factor. The auto sector, especially with the EV push, isn't going to have the same palladium needs. Substitution just adds another layer to that.