Platinum Price Sees Sharp Pullback, Spot Market Transactions Moderate [SMM Daily Review]

Published: Jul 17, 2026 12:09

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Platinum prices pulled back sharply today, weighed down by hawkish signals from the Fed’s Logan combined with renewed Middle East tensions. In early trading, the most-traded platinum contract PT2608 on the GFEX settled at 398.4 yuan/g, down 3.15%, while the inverted spread between the SGE platinum 9995 ask price and the GFEX PT2608 hovered around 5 yuan/g. On the spot side, mainstream platinum quotes ranged from a discount of 0.5 yuan/g to a premium of 0.5 yuan/g against the PT2608 contract. The premiums/discounts for mainstream quotes saw relatively small changes from the previous trading day. Suppliers’ warehouse warrant quotes were mostly near parity with the most-traded GFEX contract, while factory warehouse warrants and spot quotes skewed to the lower end, with some offered at around a 3 yuan/g discount to the GFEX October contract. The October-August spread on GFEX platinum contracts narrowed today, and downstream buyers negotiated purchases based on orders. Overall, spot platinum market trading was moderate today.

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