Platinum Prices Fluctuated Intraday, Strong Wait-and-See Sentiment with Divergent Platinum-Palladium Trading [SMM Daily Review]

Published: Apr 22, 2026 12:03

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Platinum prices consolidated in a range today. The most-traded PT2606 contract on the Guangzhou Futures Exchange closed at 522.95 yuan/gram in the morning session, down slightly by 0.17%. Spot market, mainstream quotations from spot platinum traders in the morning session were at a discount of 5-6 yuan/gram to PT2606, with the spot mainstream quotation discount remaining basically flat compared to the previous trading day. Transaction side, according to SMM, a small volume of deals were concluded in the morning session at discounts of 6-7 yuan/gram. The market generally reflected that platinum transactions have been more difficult than palladium recently. Some trading firms engaging in both spot and futures market continued to hold prices firm while waiting for the discount to narrow due to delivery intentions, leaving limited room for negotiation. Downstream enterprises made small purchases based on order needs, and overall spot market transactions remained sluggish.

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