Platinum Prices Stop Falling and Rebound, Spot Market Discounts Widen Slightly, Trading Muted [SMM Daily Review]

Published: Jun 12, 2026 12:23

Save

Platinum prices stopped falling and rebounded intraday. On the geopolitical front, the US announced the cancellation of military operations, and as the US and Iran sent signals of easing tensions, precious metals, which had been under pressure and plummeted recently, rebounded collectively. In morning trading, the most-traded GFEX platinum futures contract PT2608 settled at 433 yuan/g, up 3.99%. The inverted spread between the SGE Pt9995 ask price and GFEX PT2608 held near 3 yuan/g. In the spot market, mainstream platinum quotations were at a discount of 3 yuan/g to parity against the PT2608 contract, and as futures rebounded, the discount in mainstream quotations widened slightly from the previous day. According to SMM, most suppliers offered at a discount of 2 yuan/g to parity against the GFEX 2608 contract, but downstream enterprises showed strong bargaining sentiment, making transactions difficult. Some traders reported that with platinum prices rebounding and downstream enterprises having sufficient stockpiles, trading was poor today. Overall, spot platinum market trading was sluggish today.

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 for 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

Platinum prices were in the doldrums intraday, and spot platinum offers showed wide price spreads, making trading difficult [SMM daily review]

Common.Time.hoursAgo

[SMM Precious Metal Express] Singapore Exchange to Launch OTC Gold Clearing, Boosting Global Market Infrastructure

[SMM Precious Metal Express] Singapore Exchange announced it will establish an OTC gold clearing system and plans to launch central bank vault custody services by October, accelerating global gold market infrastructure development. This move is expected to enhance Singapore's position as an international gold trading hub, providing more comprehensive clearing and custody infrastructure for the precious metals market.

Common.Time.hoursAgo

US-Iran Deal Reopens Strait, Oil Prices Drop, Precious Metals Rise Amid Fed Policy Focus

[SMM Precious Metal Express] The US-Iran agreement has been finalized, with the Strait of Hormuz set to reopen on Friday, sending oil prices sharply lower. However, precious metals rose instead of fell, as market focus shifted from geopolitical risks to Federal Reserve policy expectations. The US dollar index edged up to 99.67, while Treasury yields remained elevated. Precious metals climbed for a third consecutive day, indicating continued inflows of safe-haven capital.

Common.Time.hoursAgo