Platinum Prices Held Up Well Intraday, Downstream Wait-and-See Sentiment Was Strong [SMM Daily Review]

Published: Jun 17, 2026 11:38

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Platinum prices held up well during the day. The US-Iran memorandum of understanding was finalized and is planned to be formally signed on June 19. The market focused on the uncertainty before the signing, as well as the Fed's interest rate decision and press conference in the early hours of Thursday. In the early session, the most-traded GFEX platinum contract PT2608 closed at 442.7 yuan/g, up 1.59%. The inverted spread between the best ask price for SGE Pt9995 and GFEX PT2608 widened to 5-7 yuan/g. In the spot market, the mainstream quotation for platinum was at a discount of 3 yuan/g to 1 yuan/g against the PT2608 contract. The discount on mainstream quotations was basically flat compared with the previous trading day, but downstream enterprises had sufficient stockpiles and a strong wait-and-see sentiment. Some enterprises pushed for lower prices for rigid demand. The price spread of offers in the spot market was large, and transactions at the high end of mainstream quotations were very difficult. Overall, platinum trading remained sluggish today.

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