Platinum Prices Plunge Intraday Spot Market Transactions Recover [SMM Daily Review]

Published: Mar 3, 2026 12:05

Save

Platinum prices fell sharply today, with the most-traded platinum 2606 futures contract on the GFEX dropping 4.24% in early trading and closing at 596.45 yuan/gram. In the spot market, spot platinum against the PT2606 contract was quoted at a discount of 10-12 yuan/gram, or at a discount of 1-3 yuan to the SGE selling price 1. The spot discounts narrowed compared to the previous trading day. In terms of spot transactions, according to SMM, some end-users made just-in-time procurement, mainly buying small quantities at the low point around 10:00. Meanwhile, the willingness to sell among some traders increased, leading to a recovery in overall spot market transactions.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.hoursAgo

Silver prices in the doldrums downstream buyers purchasing on dips spot market premiums slightly adjusted [SMM Daily Review]

Common.Time.hoursAgo

Gold Rips at the Open, Pulls Back to Test Swing Zone

Gold has been in a strong trend for the past month following the late-January pullback, and that move hastened at the open this week as war tensions took hold across global markets.

Common.Time.hoursAgo

Silver Price Forecast: XAG/USD Plunges Below $94.00 as Renewed Dollar Demand Sparks Market Anxiety

Global precious metals markets witnessed significant pressure on Tuesday as silver prices declined sharply, with the XAG/USD pair falling below the critical $94.00 threshold amid renewed demand for the US Dollar.

Common.Time.hoursAgo