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.minsAgo

China's May 2026 Financial Data Shows Stable M2, Rising M1, Boosting Precious Metals Sentiment

[SMM Precious Metal Express] China's May 2026 financial data: M2 unchanged, M1 up; Jan-May social financing increment reached 17.48 trillion yuan.

Common.Time.minsAgo

US and Iran Reach Agreement, Geopolitical Risks Fall, Oil Prices Drop, Precious Metals Rise

[SMM Precious Metal Express] The US and Iran reached a memorandum of understanding to be formally signed on Friday, June 20, in Switzerland, with an immediate end to all front-line hostilities and free passage through the Strait of Hormuz. Geopolitical risk premiums have fallen sharply. Oil prices plunged at the open, while precious metals gapped higher.

Common.Time.minsAgo

Jun 12, 2026 10:29

Platinum Group Metals Rebound as Trump Suspends Airstrikes, Rhodium Rises

Following Trump’s post suspending airstrikes recently, platinum group metals (PGMs), which had been under severe downward pressure, staged a sharp rebound. Rhodium halted its streak of consecutive declines and edged higher, with prices hovering around RMB 1,970 per gram. Market participants note that PGMs are currently at a double low in technical indicators and market sentiment, endowing them with upward rebound momentum.

Jun 12, 2026 10:29