Platinum Prices Continued in the Doldrums, Spot Market Trading Normal [SMM Daily Review]

Published: May 27, 2026 12:01

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Platinum prices were in the doldrums today. Macro side, Iran said the US blatantly violated the ceasefire agreement and it would respond accordingly. In morning trading, GFEX PT2606 closed at 478.85 yuan/gram, down 1.12%, while the most-traded contract PT2608 closed at 482.80 yuan/gram, down 1.15%. The inverted price spread between SGE platinum 9995 ask price and GFEX PT2606 widened, remaining at 8-10 yuan/gram. Spot side, mainstream quotation premiums for spot platinum were basically flat compared with the previous trading day. In morning trading, traders' mainstream quotations for non-delivery brand platinum were at parity to a discount of 2 yuan/gram against GFEX PT2606, while mainstream quotations for deliverable platinum ingots were at a slight premium to parity against PT2606. Quotations from warrant spot suppliers were generally higher. In terms of transactions, according to SMM, downstream enterprises purchased as needed based on orders, while trading firms engaging in both spot and futures market actively inquired about platinum and palladium warrants due to current price spread between futures contracts opportunities. Overall activity in the spot platinum market was normal today.

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