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

Published: Jun 16, 2026 12:03

Save

Platinum prices were in the doldrums intraday, with market concerns primarily arising from the uncertainties before the formal signing of the U.S.-Iran agreement on the 19th and the ambiguity from the Israeli side, and platinum futures gave up some of yesterday's gains. In the morning session, the most-traded GFEX platinum contract PT2608 closed at 435.6 yuan/g, down 1.44%, and the inverted spread between the sell-one price of SGE platinum 9995 and GFEX PT2608 widened to 3-6 yuan/g. Spot side, mainstream platinum quotations were at a discount of 3 yuan/g to parity against the PT2608 contract, with the discount basically flat from the previous trading day, but transactions clearly favored the low end of quotations. According to SMM, with the recent rebound in platinum prices, the offer spread in the platinum spot market was wide, making it very difficult to transact at the high end of mainstream quotations. Downstream enterprises had ample stockpiles and subdued procurement sentiment, with overall transactions being lackluster.

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

[SMM Precious Metal Analysis] Fed's Hawkish Stance Pressures Precious Metals, But Long-Term Outlook Remains Bullish

Common.Time.hoursAgo

Jun 18, 2026 15:23

Spot Market and China Inventory Review (June 18, 2026) [SMM Silver Market Weekly Review]

Jun 18, 2026 15:23

Jun 18, 2026 14:43

Fed Hints at December Rate Hike, Precious Metals Face Near-Term Pressure Amid US-Iran Talks

Yesterday, the Federal Reserve kept interest rates unchanged at its rate decision meeting. However, market participants believe that remarks made during the press conference suggest a high probability of one rate hike in December to rein in inflation. Drawing on the historical pattern whereby precious metals tend to price in rate hike expectations in advance, near-term pressure on precious metals is anticipated. Market participants also note that a US–Iran agreement could potentially be signed within the next few days. That said, given that precious metals already showed fading upward momentum in the first half of this week, the market impact of geopolitical developments may now be increasingly limited.

Jun 18, 2026 14:43