Platinum Prices Hold Up Well, Spot Market Discount Maintained as Consumption Remains Subdued [SMM Daily Review]

Published: May 22, 2026 12:00

Save

Platinum prices held up well today, with market logic still revolving around developments in US-Iran tensions and expectations for US Fed interest rate hikes. Ultimately, the most-traded platinum contract on GFEX closed the morning session at 485.95 yuan/gram, edging up 0.34%. The SGE Pt9995 best offer price remained persistently inverted against GFEX PT2606, with the price spread maintained at around 5 yuan/gram. There were no transactions for SGE Pt9995 during the morning session. Spot side, mainstream quotations for spot platinum premiums were basically flat compared to the previous trading day. Morning mainstream quotations from traders were at parity to a discount of 2 yuan/gram against GFEX PT2606. Transaction side, according to SMM, morning transactions from suppliers at mainstream quotations of parity to a discount of 2 yuan/gram against the most-traded GFEX platinum contract faced resistance. Downstream consumption was sluggish, with some downstream enterprises reporting sufficient stockpiling levels and weak procurement sentiment, while most suppliers also had limited room for price negotiation due to the approaching delivery period. Overall, spot market activity was relatively low 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 Fluctuated Intraday, Spot Market Discount Narrowed Slightly [SMM Daily Review]

3 hours ago

21 hours ago

Central banks are buying more gold than expected, and purchases will increase further through 2026 – Goldman Sachs

21 hours ago

Gold will hit $5,800 ATH by December, but silver has highest upside, platinum has breakout potential – MKS PAMP’s Shiels

21 hours ago