US-Iran conflict eases, platinum prices rise. Spot market trading is thin. [SMM Daily Commentary]

Published: Jun 15, 2026 12:07

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Platinum futures fluctuated upward during the day. Amid easing U.S.-Iran tensions and a pullback in oil prices, precious metals, which had been under significant pressure recently, rose sharply. In morning trading, the most-traded platinum contract PT2608 on the GFEX closed at 441.6 yuan/g, up 2.67%. The inverted price spread between the SGE Pt-9995 best ask and GFEX PT2608 remained at 1-2 yuan/g. On the spot side, mainstream quotations for spot platinum were between a discount of 3 yuan/g and parity against the PT2608 contract. As futures rebounded, the mainstream quotations' discount widened slightly from the previous trading day, with deals leaning toward the lower end of the quoted range. According to SMM sources, although downstream enterprises made inquiries, strong bargaining sentiment made transactions relatively difficult. Overall, the platinum price rebound, combined with sufficient stockpiling by downstream enterprises when prices were low, left today's trading activity sluggish.

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