Platinum Prices Edged Down Intraday, Market Actively Inquired About Warrant Spot Cargo [SMM Daily Review]

Published: May 26, 2026 12:02

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Platinum prices edged down today. On the macro front, rising expectations for US-Iran peace talks combined with heightened expectations for US Fed interest rate hikes driven by the Fed's hawkish stance continued to guide precious metals into volatile trading. In the morning session, GFEX PT2606 closed at 484.4 yuan/gram, down 0.66%, and the most-traded contract PT2608 closed at 489.1 yuan/gram, down 0.44%. The SGE Pt9995 best offer price remained in persistent inversion against GFEX PT2606, with the price spread staying around 5 yuan/gram. Spot side, mainstream quotations for spot platinum premiums were basically flat compared to the previous trading day. In the morning session, mainstream quotations from traders for non-delivery brand platinum were at parity to a discount of 2 yuan/gram against GFEX PT2606. Transaction side, according to SMM, some downstream buyers made rigid-demand bargain purchases in the morning session. Some suppliers reported small volumes of spot cargo transacted at a discount of 2 yuan/gram. Registered warrant shipment prices were generally higher. Trading firms engaging in both spot and futures market actively inquired about platinum and palladium warrants due to current price spread between futures contracts opportunities. The price difference between non-delivery spot platinum and registrable warrant spot cargo in the spot market gradually widened. Overall, consumption in the spot platinum market was normal today.

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