Platinum Prices Continued to Hold Up Well, Downstream Buyers Mostly Waited and Watched as Trading Remained Sluggish [SMM Daily Review]

Published: Apr 15, 2026 11:57

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Platinum prices held up well today. The most-traded GFEX platinum contract PT2606 closed the morning session at 534.8 yuan/gram, up 1.71%, with the intraday high breaking through 3% to reach 544.65 yuan/gram. Spot side, mainstream quotations from spot platinum traders in the morning session were at a discount of 5-7 yuan/gram against the PT2606 contract, with the spot mainstream quotation discount widening compared to the previous trading day. Spot transactions side, according to SMM, most traders holding inventory continued to hold prices firm due to cost considerations and delivery intentions, with basically no transactions concluded at the discount of 5-7 yuan/gram. When futures prices hit intraday highs in the morning session, the absolute spot prices from upstream, when converted, showed a discount of over 10 yuan/gram against the GFEX 06 contract. The consumption side showed low acceptance of mainstream market quotations, with the price spread between bids and offers remaining wide. Downstream consumption was generally poor, with a wait-and-see stance prevailing. Some enterprises made small purchases through negotiation to meet rigid demand, and overall spot market transactions remained sluggish.

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