Platinum Prices Fluctuate Upward, Spot Market Trading Relatively Sluggish [SMM Daily Review]

In early trading, platinum prices fluctuated upward, with the most-traded contract closing at 620.7 yuan per gram, up 6.69%. Domestic spot platinum against the GFEX pt2606 contract widened to a discount of 20-25 yuan per gram, against the SGE sell 1 at a discount of 4-8 yuan per gram, while the premium over international platinum continued to narrow. On the spot trade side, producers showed low purchase willingness and generally adopted a cautious approach to purchasing. Transactions were relatively difficult with small discount offers. The spot market remained primarily supported by investment demand, with overall trading turning sluggish.