Platinum Prices Edged Up Intraday, Spot Market Overall Still in the Doldrums [SMM Daily Review]

Published: May 14, 2026 12:01

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Platinum prices moved sideways intraday. In the morning session, the most-traded GFEX platinum contract PT2606 closed at 531.75 yuan/gram, up 0.28%. The SGE Pt9995–GFEX PT2606 spread remained inverted, but SGE Pt9995 saw no transactions in the morning session. Spot side, mainstream quotations for spot platinum premiums were largely unchanged from the previous trading day. Morning mainstream quotations from traders were at a discount of 3–5 yuan/gram to GFEX PT2606, with some platinum warrants held at firm prices for sale. Transaction side, according to SMM, downstream buyers indicated that platinum prices remained near recent highs, purchasing sentiment was weak, and a wait-and-see approach prevailed. Morning mainstream quotations at a GFEX discount of 3–5 yuan/gram saw almost no transactions. Some enterprises chose to slightly widen discounts but still found it difficult to close deals. Platinum warrants also saw scarce transactions due to high asking prices, and the spot market overall remained in the doldrums.

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