Platinum and Palladium Futures Surged During the Week, Market Enthusiasm Unprecedented, GFEX Issues Trading Limit Notice [SMM Platinum and Palladium Futures Weekly Review]

[SMM Platinum and Palladium Futures Weekly Review] This week (December 15 – December 19), the most-traded platinum contract PT2606 opened at 457 yuan per gram and closed at 533.55 yuan per gram, up 82.7 yuan per gram, or 18.34%, from last week's settlement price. The highest price during the week was 549.9 yuan per gram, and the lowest price was 455.8 yuan per gram. The most-traded palladium contract PD2606 opened at 390 yuan per gram and closed at 480.2 yuan per gram, up 91 yuan per gram, or 23.38%, from last week's settlement price. The highest price during the week was 486.95 yuan per gram, and the lowest price was 389.55 yuan per gram. In terms of futures trading: PT2606 had a total weekly trading volume of 526,384 lots, a total turnover of 273.938 billion yuan, and an open interest of 33,474 lots, with open interest increasing by 22,304 lots WoW. PD2606 had a total weekly trading volume of 315,171 lots, a total turnover of 143.093 billion yuan, and an open interest of 14,011 lots, with open interest increasing by 10,548 lots WoW. The most-traded platinum and palladium contracts surged this week, with unprecedented market enthusiasm. Industry insiders believe that the current sustained sharp rise in platinum and palladium futures prices is the result of a combination of fundamental factors and market sentiment.
On the evening of December 18, GFEX announced that, in accordance with the "GFEX Risk Management Measures," and after research, it decided that starting from the trading session on December 23, 2025, the single-day open position for non-futures company members or clients in the platinum futures contracts PT2606, PT2608, PT2610, and PT2612 shall not exceed 500 lots each, and the single-day open position for non-futures company members or clients in the palladium futures contracts PD2606, PD2608, PD2610, and PD2612 shall not exceed 500 lots each, formally implementing trading limits on the relevant platinum and palladium futures contracts.