Platinum futures remain under pressure; spot market trading is quiet with strong holiday sentiment [SMM Daily Review]

Published: Sep 29, 2026 12:07 (GMT+8)

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Platinum futures fell under pressure today. On the macro front, dashed hopes for geopolitical de-escalation pushed oil prices higher, while rising US Treasury yields weighed on precious metals valuations. The market awaited guidance from September PCE and non-farm payrolls data. In morning trading, the most-traded GFEX platinum contract PT2612 closed at 415.3 yuan/g, down 2.14%; the price spread between the best ask price for SGE platinum 9995 and the GFEX PT2612 contract widened to around 10 yuan/g.
In the spot market, mainstream quotations from platinum traders were concentrated at a discount of around 1 yuan/g against the PT2612 contract, or a premium of around 1 yuan/kg against the PT2610 contract. As futures prices declined, the overall discount narrowed slightly compared with the previous trading day. With the holiday approaching, market trading sentiment was sluggish. Downstream buyers made inquiries and purchases based on stockpiling needs, while some traders exited the spot market and suspended quotations after clearing inventory. Overall, spot platinum market trading was thin today.

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