Platinum Prices Came Under Pressure and Plunged Intraday, Spot Discounts Narrowed and Transactions Recovered [SMM Daily Review]

Published: Mar 23, 2026 11:44

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<html><head></head><body>Platinum prices fell sharply today, with the most-traded platinum contract PT2606 on the Guangzhou Futures Exchange closing the morning session at 481.3 yuan/gram, down 6.82. In the spot market, spot platinum was quoted at discounts of 6-8 yuan/gram against PT2606, or at discounts of 7-9 yuan/gram against the SGE sell-1 price, and an inversion emerged between the SGE sell-1 price and the GFEX 06 contract. Spot discounts narrowed from the previous trading day. As for spot transactions, SMM learned that traders reported relatively many inquiries and active bargaining. Upstream enterprises showed low willingness to sell due to the sharp price decline, and market quotations were mainly from traders. Downstream buyers bought the dip based on immediate needs, and overall trading in the spot market recovered somewhat.</body></html>

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