Platinum Prices Were in the Doldrums Intraday, and Spot Market Trading Remained Sluggish [SMM Daily Review]

Published: Apr 2, 2026 12:05

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Platinum prices continued to hold up well today. The most-traded platinum contract on the Guangzhou Futures Exchange, PT2606, closed the morning session at 493.8 yuan/g, down 2.84%. In the spot market, mainstream quotations for spot platinum in the morning session were at discounts of 7-9 yuan/g to PT2606, or quoted at 5-7 yuan/g against the Shanghai Gold Exchange's sell-1 price. Spot discounts were unchanged from the previous trading day. As for spot transactions, SMM learned that cargo-holding traders reported that market orders remained limited and consumption was average. In the morning session, spot platinum quoted at around an 8 yuan/g discount to the Guangzhou Futures Exchange was difficult to transact. Some trading firms engaging in both spot and futures market actively offered quotations in search of spot-futures price spread opportunities, while downstream players still mainly stayed on the sidelines. Some enterprises reported relatively sufficient stockpiling and low purchase willingness. Overall transactions in the spot market remained sluggish.

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