Platinum Prices Continued to Decline, Spot Discounts Were Basically Flat Compared with Yesterday [SMM Daily Review]

Published: Mar 4, 2026 12:03

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Platinum prices extended their downtrend, with the most-traded PT2606 platinum futures contract on the Guangzhou Futures Exchange down 5.48% in the morning session, closing at 558 yuan/gram. In the spot market, spot platinum prices against PT2606 were quoted at discounts of 9–12 yuan/gram, or at discounts of 0–3 yuan against SGE Sell 1. Spot discounts were basically flat compared with the previous trading day. In terms of spot transactions, according to SMM, some cargo-holding traders actively shipped, end-users made small volumes of just-in-time procurement, and some downstream enterprises stayed on the sidelines, cautious about buying amid fears of further declines. The spot market was dominated by small-lot deals, and overall trading slightly softened from yesterday.

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