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Platinum Prices Fell in Early Trading, Spot Demand Was Sluggish and Traders Showed Strong Delivery Intentions [SMM Daily Review]

Published: Apr 23, 2026 11:58
Platinum prices fell today. The most-traded PT2606 contract on the Guangzhou Futures Exchange closed at 514.25 yuan/gram in the morning session, down 1.67%. Spot side, mainstream spot quotations remained largely unchanged from the previous trading day in terms of discount, with mainstream morning quotations from spot platinum traders at a discount of 5–6 yuan/gram to PT2606. Trading side, according to SMM, transactions were difficult to close at discounts around 6 yuan/gram during the morning session. Some enterprises reported that their intended purchase prices were at discounts of more than 7 yuan/gram, and most trading firms engaging in both spot and futures market opted to wait for premium opportunities or prepare for delivery, leaving limited room for negotiation. Sluggish downstream demand persisted, and overall spot market trading remained thin.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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