Platinum futures stop falling and rebound, spot discounts widen slightly [SMM Daily Review]

Published: Oct 09, 2026 11:39 (GMT+8)

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Platinum futures stopped falling and rebounded today. On the macro front, Waller said yesterday that more rate hikes are still needed but not necessarily consecutive moves. Geopolitically, Trump said he would not attack Iran before the midterm elections, with US-Iran consultations making progress but military preparations still advancing. In early trading, the most-traded GFEX platinum contract PT2612 closed at 409.25 yuan/g, up 1.12%; the best ask price for SGE platinum 9995 traded at a spread of around 5 yuan/g against the GFEX PT2612 contract.

In the spot market, after bargain hunting yesterday, end-user purchasing sentiment pulled back today. Mainstream quotations from suppliers were around a discount of 1 yuan/g to parity against PT2612, and some traders said deals near parity on the PT2612 contract met resistance, requiring adjustments to a slight discount before transactions could be completed. Overall, the discount in the platinum spot market widened slightly today, and trading sentiment pulled back.

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