Platinum Prices Hold Up Well Intraday, Spot Market Premiums Steady [SMM Daily Review]

Published: Jul 21, 2026 12:06
Platinum prices held up well today, with precious metals futures seeing a technical rebound after being in the doldrums for consecutive sessions. However, lacking macro-driven catalysts, upside room is expected to be limited. In July, the platinum-palladium 232 window will open. If the US imposes tariffs on platinum and palladium after the 180-day negotiation period, it will lend support to prices in the short term. In early trading, the most-traded GFEX platinum futures contract PT2608 closed at 396.95 yuan/g, up 1.03%. The inverted spread between the selling price of SGE platinum 9995 and PT2608 held at around 5 yuan/g. On the spot side, mainstream quotations were at parity to a premium of 1 yuan/g against the PT2608 contract, with premiums basically flat from the previous trading day. Today, the spread between the October and August GFEX platinum futures contracts widened slightly. In early trading, spot platinum suppliers mostly offered premiums of 0.5–1 yuan/g against the most-traded GFEX contract. Later, as futures rose, some suppliers adjusted offers to near parity and deals were concluded, while downstream buyers made small purchases based on orders. Overall, spot platinum trading was normal today.

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
Platinum price consolidated on a subdued note intraday, with subdued spot market consumption [SMM Daily Review]
Jul 20, 2026 12:07
Platinum price consolidated on a subdued note intraday, with subdued spot market consumption [SMM Daily Review]
Read More
Platinum price consolidated on a subdued note intraday, with subdued spot market consumption [SMM Daily Review]
Platinum price consolidated on a subdued note intraday, with subdued spot market consumption [SMM Daily Review]
Jul 20, 2026 12:07
Platinum Price Sees Sharp Pullback, Spot Market Transactions Moderate [SMM Daily Review]
Jul 17, 2026 12:09
Platinum Price Sees Sharp Pullback, Spot Market Transactions Moderate [SMM Daily Review]
Read More
Platinum Price Sees Sharp Pullback, Spot Market Transactions Moderate [SMM Daily Review]
Platinum Price Sees Sharp Pullback, Spot Market Transactions Moderate [SMM Daily Review]
Jul 17, 2026 12:09
Osmium's Rarity and Unique Properties Drive Luxury Market and Investment Growth
Jul 17, 2026 11:58
Osmium's Rarity and Unique Properties Drive Luxury Market and Investment Growth
Read More
Osmium's Rarity and Unique Properties Drive Luxury Market and Investment Growth
Osmium's Rarity and Unique Properties Drive Luxury Market and Investment Growth
[SMM PGM Express] Osmium is attracting growing attention in the luxury goods and alternative investment markets, supported by its exceptional rarity (most rare preciuos metal on earth) and increasing use in high-end jewellery. Industry sources indicate that crystalline osmium prices have increased by nearly 500% over the past eight years, reflecting limited supply and expanding demand from collectors and luxury brands. Global osmium output remains extremely limited, as the metal is recovered only as a by-product of platinum group metal mining. Industry estimates suggest that approximately 22 tonnes of recoverable osmium remain available, underscoring its scarcity and contributing to a relatively small global market. Most refined crystalline osmium is currently held by long-term investors, limiting the volume available for trade. Beyond its rarity, crystalline osmium is gaining recognition for its unique physical properties, including its high density, natural brilliance and traceable certification system, making it increasingly attractive as both a luxury material and a tangible asset. As interest expands beyond Europe into markets such as China and the United States, market participants will continue to monitor supply availability, investor demand and adoption by the luxury jewellery sector as key drivers of future price trends.
Jul 17, 2026 11:58
Register to Continue Reading
Gain access to the latest insights in metals and new energy
Already have an account?Sign in here
Platinum Prices Hold Up Well Intraday, Spot Market Premiums Steady [SMM Daily Review] - Shanghai Metals Market (SMM)