Platinum Prices Drop Slightly Intraday, Spot Market Demand Recovers [SMM Daily Review]

Platinum prices dropped slightly during the day. In the morning session, the most-traded PT2606 contract on the Guangzhou Futures Exchange closed at 587.35 yuan/gram, down 0.99%. Spot side, domestic spot platinum quotations against the GFEX PT2606 contract were at discounts of 7~11 yuan/gram, or against the SGE sell1 contract at discounts of 2~6 yuan/gram, and at premiums of 10~15 yuan/gram against international platinum. According to SMM, some traders actively inquired and negotiated prices, while some suppliers held back spot cargoes at parity with the SGE sell1 contract, waiting and watching. Spot demand improved, and overall market transactions recovered.