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/gram and closed at 533.55 yuan/gram, rising 82.7 yuan/gram or 18.34% compared to last week's settlement price. The highest price during the week was 549.9 yuan/gram, and the lowest price was 455.8 yuan/gram. The most-traded palladium contract PD2606 opened at 390 yuan/gram and closed at 480.2 yuan/gram, rising 91 yuan/gram or 23.38% compared to last week's settlement price. The highest price during the week was 486.95 yuan/gram, and the lowest price was 389.55 yuan/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, which increased 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, which increased by 10,548 lots WoW. The most-traded platinum and palladium contracts surged significantly this week, with unprecedented market enthusiasm. Industry insiders believed that the continuous sharp rise in platinum and palladium futures prices was 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 and decision, starting from the trading session on December 23, 2025, the daily open position for non-futures company members or clients in the platinum futures contracts PT2606, PT2608, PT2610, and PT2612 shall not exceed 500 lots per contract, and the daily open position for non-futures company members or clients in the palladium futures contracts PD2606, PD2608, PD2610, and PD2612 shall not exceed 500 lots per contract, formally implementing trading limits on the relevant platinum and palladium futures contracts.