Platinum Prices Came Under Pressure and Plunged Intraday, Spot Discounts Narrowed and Transactions Recovered [SMM Daily Review]

Published: Mar 23, 2026 11:44

Save

<html><head></head><body>Platinum prices fell sharply today, with the most-traded platinum contract PT2606 on the Guangzhou Futures Exchange closing the morning session at 481.3 yuan/gram, down 6.82. In the spot market, spot platinum was quoted at discounts of 6-8 yuan/gram against PT2606, or at discounts of 7-9 yuan/gram against the SGE sell-1 price, and an inversion emerged between the SGE sell-1 price and the GFEX 06 contract. Spot discounts narrowed from the previous trading day. As for spot transactions, SMM learned that traders reported relatively many inquiries and active bargaining. Upstream enterprises showed low willingness to sell due to the sharp price decline, and market quotations were mainly from traders. Downstream buyers bought the dip based on immediate needs, and overall trading in the spot market recovered somewhat.</body></html>

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

1 hour ago

Silver Prices Fell Sharply, Downstream Buyers Were Cautious About Purchasing Amid Fears of Further Declines, and Trading Was Muted [SMM Daily Review]

1 hour ago

2 hours ago

Gold just saw its biggest decline since 1983: what’s next

Gold is doing the opposite of what it should. The metal is falling for a reason most investors did not see coming. Wall Street's biggest banks have not changed their outlook. Here is why that matters.

2 hours ago

Gold and Silver Struggle at $5,000 and $80 Marks – Dollar Strength Slows the Rally

Gold and silver continue to move within a difficult tension between geopolitical uncertainty and monetary policy headwinds. Both precious metals are currently testing important support levels within their broader consolidation patterns, without a new clear upward impulse having developed so far.

2 hours ago