Platinum Edges Up in Early Trading; Market Activity Sluggish on Last Trading Day Before Holiday [SMM Daily Review]

Published: Sep 30, 2026 12:17 (GMT+8)

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Platinum futures drifted higher today. On the macro front, Fed official Williams' remarks pushed down the probability of an October rate hike, while the US and Iran maintained indirect contact. The US planned to release 40 million barrels of strategic reserves via a "swap," easing energy inflation pressure in phases. In early trading, the most-traded GFEX platinum contract PT2612 closed at 418.35 yuan/g, up 0.87%; the price spread between the best ask for SGE platinum 9995 and GFEX PT2612 narrowed to around 4 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 0.5-1 yuan/kg against the PT2610 contract. With the holiday approaching, market trading sentiment was sluggish, some suppliers suspended quotations for the holiday, and downstream purchases were mainly small-volume restocking. Overall, the platinum spot market showed a strong holiday atmosphere with sluggish trading today.

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