Platinum and Palladium Futures Fluctuated Upward During the Week, Trading Volume Shrank Significantly [SMM Platinum and Palladium Futures Weekly Review]

[SMM Platinum and Palladium Futures Weekly Review] This week (December 8 – December 12), the most-traded platinum contract PT2606 opened at 440.05 yuan per gram and closed at 452.05 yuan per gram, up 11.75 yuan per gram compared to last week's settlement price, with a weekly highest price of 455 yuan per gram and a weekly lowest price of 432 yuan per gram; the most-traded palladium contract PD2606 opened at 380.5 yuan per gram and closed at 389.45 yuan per gram, up 9.8 yuan per gram compared to last week's settlement price, with a weekly highest price of 391.9 yuan per gram and a weekly lowest price of 378.7 yuan per gram.

In terms of futures trading: PT2606 had a total weekly trading volume of 49,941 lots, a total turnover of 22.201 billion yuan, and an open interest of 11,170 lots, with open interest increasing by 646 lots WoW. PD2606 had a total weekly trading volume of 26,323 lots, a total turnover of 10.153 billion yuan, and an open interest of 3,463 lots, with open interest increasing by 262 lots WoW. The trading volume of the most-traded platinum and palladium contracts both decreased by more than half compared to last week.

Summary: The most-traded platinum and palladium contracts generally fluctuated upward this week, with market activity continuing to cool down compared to last week, and overall open interest changes were relatively small. Platinum and palladium prices currently mainly follow gold and silver, with no significant supply-demand contradictions in the short-term fundamentals, dominated by speculative attributes, and most capital remains in a wait-and-see state. Due to the discontinuity between domestic and overseas markets, opening prices often reference overseas night session conditions, requiring close attention to international market trading prices.