Platinum Prices Under Pressure and Declined; Spot Market Well-Supplied with Active Trading [SMM Daily Review]

Published: Jun 4, 2026 12:05

Save

Platinum prices fell under pressure today. On the macro front, US ADP employment data exceeded expectations, and combined with the volatile geopolitical situation in the Middle East, precious metals overall remained under macro pressure. During the morning session, the most-traded GFEX platinum contract PT2608 closed at 467.55 yuan/g, down 1.81%, and the inverted price spread between the SGE platinum 9995 best offer price and GFEX PT2608 narrowed to around 4 yuan/g. Spot side, mainstream quotations for spot platinum were at a discount of 2 yuan/g to parity against the PT2608 contract. The overall spot discount did not narrow despite the decline in futures, and transactions at higher-range quotations remained difficult. Most transactions leaned toward the lower end of mainstream quotations, with some suppliers reporting transaction prices at around a discount of 2 yuan/g against the most-traded platinum contract PT2608. Strong import data in recent months kept domestic spot platinum and palladium relatively abundant. Suppliers actively sold, and downstream buyers also actively inquired as absolute prices continued to decline. Overall, the spot platinum market remained fairly active today.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 hours ago

Silver Prices Remain Under Pressure, Spot Market Overall Still Leans Cautious [SMM Daily Review]

3 hours ago

Jun 3, 2026 15:04

Major Shift in the Financial System: Gold Overtakes U.S. Treasury Bonds in Global Reserves

Jun 3, 2026 15:04

Jun 3, 2026 14:53

The Battle for $4,500: Why the Hot U.S. Job Market Is Becoming a Stress Test for Gold

Jun 3, 2026 14:53