Platinum Prices Continued to Fluctuate and Consolidate, Spot Discounts Narrowed Slightly as Sluggish Market Persisted [SMM Daily Review]

Published: Apr 16, 2026 11:53

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Platinum prices continued to consolidate in a range-bound pattern today. The most-traded PT2606 contract on the Guangzhou Futures Exchange closed at 538.25 yuan/gram in the morning session, up 0.44%. Spot side, mainstream quotations from spot platinum traders in the morning session were at a discount of 4-6 yuan/gram to PT2606, with the spot mainstream quotation discount narrowing compared to the previous trading day. Spot transactions side, according to SMM, most cargo-holding spot-futures traders continued to hold prices firm due to cost considerations and delivery intentions, and the morning session quotations at a discount of 4-6 yuan/gram saw essentially no transactions. The consumption side remained sluggish, as buyers generally considered mainstream quotations too high. The price spread between offers and counter-offers remained wide. Most downstream enterprises adopted a wait-and-see approach, with only a few enterprises making small negotiated purchases for rigid demand. Overall, the spot market remained sluggish with no change in trading activity.

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