Platinum prices consolidated intraday, with thin trading in the spot market [SMM Daily Review]

Published: Jul 14, 2026 12:08

Save

Platinum extended its consolidative run today. The US-Iran situation remained volatile, with US forces conducting airstrikes on Iran for three consecutive days, the Strait of Hormuz remaining closed, and the US Fed sending hawkish signals. Platinum and palladium showed relative resilience against declines, with concerns over Section 232 potentially providing a floor of support for prices. In early trading, the most-traded GFEX platinum contract PT2608 closed at 396.15 yuan/g, edging down 0.38%. The inverted spread between the SGE platinum 9995 best-ask price and GFEX PT2608 remained around 6 yuan/g. In the spot market, mainstream platinum quotations were at a discount of 0.5 yuan/g to a premium of 1 yuan/g against the PT2608 contract, with the discount changing little from the previous trading day. Supplier quotes were mainly at parity with or at a slight premium to the most-traded GFEX contract. However, overall feedback indicated weak consumption, with only some suppliers managing to close small-volume deals at slight premiums to the GFEX contract. Downstream buyers generally maintained a strong wait-and-see sentiment, making just-in-time purchases through price negotiations, while overall spot market consumption remained sluggish.

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 for 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

Jul 13, 2026 12:06

Precious metals market saw deep long-short battle platinum price was in the doldrums intraday, spot market consumption was weak [SMM Daily Review]

Jul 13, 2026 12:06

Jul 13, 2026 10:45

Middle East Tensions Rise: Iran Closes Strait, US Conducts Airstrikes

【SMM Precious Metal Express】Middle East tensions have escalated sharply. Iran's Revolutionary Guard announced the closure of the Strait of Hormuz, while the US military stated the southern route remains "open." The US carried out four rounds of airstrikes on Iran within a week, and Iran claimed to have destroyed multiple US military facilities in the Middle East.

Jul 13, 2026 10:45

Fed Reports Inflation Surge, Pledges to Use All Tools for Stability

【SMM Precious Metal Express】The Fed's semi-annual monetary policy report showed that inflation accelerated further in the spring, with headline PCE rising to 4.1% year-on-year, driven primarily by tariffs, energy, and AI demand. The Fed stated it is prepared to use all available tools to achieve its dual mandate.

Jul 13, 2026 10:45