Platinum Prices Halt Decline and Surge, Spot Market Trading Turns Sluggish [SMM Daily Review]

Published: Feb 9, 2026 11:56

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Platinum prices stopped falling and rebounded today. The most-traded platinum contract PT2606 on the Guangzhou Futures Exchange closed at 543.6 yuan per gram in the morning session, up 10.29%. Spot side, spot platinum was quoted at a discount of 5 yuan per gram to parity against PT2606. The sell1-PT2606 on the Gold Exchange ended its inversion. Spot discounts remained largely unchanged compared with the previous trading day after the morning session opened, then widened slightly as the Guangzhou Futures Exchange rose during the morning session. In terms of spot transactions, according to SMM, some traders reported tight spot platinum supply and held prices firm while being reluctant to sell. Meanwhile, end-users' willingness to make just-in-time procurement weakened somewhat, with some end-users indicating that pre-holiday restocking had been completed. Overall market transactions were relatively light.

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