Platinum Prices Stop Falling and Rebound, Spot Market Discounts Widen Slightly, Trading Muted [SMM Daily Review]

Published: Jun 12, 2026 12:23

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Platinum prices stopped falling and rebounded intraday. On the geopolitical front, the US announced the cancellation of military operations, and as the US and Iran sent signals of easing tensions, precious metals, which had been under pressure and plummeted recently, rebounded collectively. In morning trading, the most-traded GFEX platinum futures contract PT2608 settled at 433 yuan/g, up 3.99%. The inverted spread between the SGE Pt9995 ask price and GFEX PT2608 held near 3 yuan/g. In the spot market, mainstream platinum quotations were at a discount of 3 yuan/g to parity against the PT2608 contract, and as futures rebounded, the discount in mainstream quotations widened slightly from the previous day. According to SMM, most suppliers offered at a discount of 2 yuan/g to parity against the GFEX 2608 contract, but downstream enterprises showed strong bargaining sentiment, making transactions difficult. Some traders reported that with platinum prices rebounding and downstream enterprises having sufficient stockpiles, trading was poor today. Overall, spot platinum market trading was sluggish today.

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