Platinum Prices Rose Significantly, Spot Market Premiums and Discounts Declined [SMM Daily Review]

Published: Jan 21, 2026 11:37

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On January 21, platinum futures saw significant intraday gains, with the most-traded PT2606 contract on the Guangzhou Futures Exchange closing at 636.15 yuan/gram, up 3.73%. Domestic spot platinum quotations against the GFEX PT2606 contract were at discounts of 16-20 yuan/gram, or against the SGE sell 1 at discounts of 11-15 yuan/gram, with premiums and discounts notably lower than the previous day. According to SMM, some traders transacted small volumes at discounts of 20 yuan/gram against PT2606 or 15 yuan/gram against the SGE sell 1. Market support was mainly from speculative demand, while downstream purchases maintained a strong wait-and-see sentiment, with overall spot market transactions being normal.

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