Platinum Prices Remained Under Pressure Intraday, Spot Market Recovered Slightly [SMM Daily Review]

Published: May 18, 2026 12:09

Save

Platinum prices remained under pressure intraday. Precious metals continued to be weighed down by rising rate hike expectations and easing tariff concerns. In the morning session, the most-traded GFEX platinum contract closed at 490.55 yuan/gram, down 2.36%. The SGE Pt9995 versus GFEX PT2606 spread remained inverted, with the price difference staying around 5 yuan/gram. Spot side, mainstream quotations for spot platinum premiums narrowed compared to the previous trading day. In the morning session, traders' mainstream quotations were at a discount of 1-3 yuan/gram to GFEX PT2606, with some platinum warrants sold at a discount of 0.5-1 yuan/gram. Transaction side, according to SMM, a small volume was traded at the mainstream quotations of 1-3 yuan/gram discount to GFEX in the morning session, with transaction prices clearly skewed toward the lower end. As futures continued to decline since last Friday, downstream inquiries increased, and some enterprises ended their wait-and-see stance to negotiate purchases. Overall activity in the spot market recovered somewhat.

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 to learn 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

HSBC raises silver forecasts for 2026 and 2027 but warns upside may be limited

Common.Time.minsAgo

World Bank Sees Precious Metals Surging 42% in 2026 Amid Global Turmoil

Common.Time.minsAgo

Silver Under Scrutiny: Why Analysts Are Lowering Their Forecasts

Common.Time.minsAgo