Platinum Prices Under Pressure Intraday, Spot Market Trading Normal [SMM Daily Review]

Published: May 20, 2026 12:03

Save

Platinum prices were under pressure during the intraday session. Ultimately, the GFEX most-traded platinum contract closed at 478.45 yuan/gram in the morning session, down 2.70%. The SGE Platinum 9995 versus GFEX PT2606 remained in inversion, with the price spread maintained at 5-10 yuan/gram. Spot side, mainstream quotations for spot platinum premiums continued to narrow compared to the previous trading day. In the morning session, traders' mainstream quotations were at parity to a discount of 1 yuan/gram against the GFEX PT2606 contract. Transaction side, according to SMM, some suppliers found it difficult to close deals at premium quotations against the GFEX most-traded platinum contract in the morning session, and subsequently adjusted to parity to slight discount quotations, with transactions gradually completed. With the recent decline in futures, downstream inquiries increased. The market generally reflected that due to relatively low absolute prices, upstream shipments were limited, and some traders chose to wait for delivery, resulting in tight spot supply and fewer spot quotations. Overall, spot market transactions were normal today.

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 hours ago

US June CPI Slows to 3.5%, Pushing Back Fed Rate Hike Expectations

【SMM Precious Metal Express】US June CPI slowed to 3.5% year-on-year, below the 3.8% estimate and the prior 4.2%, while the monthly reading fell 0.4%—the first negative print in six years. Following the data, traders pushed back Fed rate hike expectations to October, with rate futures pricing in approximately 30 basis points of tightening by year-end, down 9 basis points from yesterday.

9 hours ago

Fed Chair Warsh Pledges to End High Inflation, Monitors AI Impacts; Further Hearings and Beige Book Ahead

【SMM Precious Metal Express】Fed Chair Warsh testified before the House, pledging to "end the era of high inflation," noting close monitoring of AI impacts, and stating that any balance sheet adjustments will be adequately previewed. He will attend further hearings today at 22:00, with the Fed's Beige Book set for release at 2:00 tomorrow.

9 hours ago

US-Iran Tensions Escalate: Naval Blockade, New Strikes, and Threats of War

【SMM Precious Metal Express】US-Iran tensions continue to escalate: US military confirmed a naval blockade on Iran resumed at 4:00 am; US forces launched a new round of strikes on Iran at 15:00 ET; Iran stated the US has entered a "formal state of war." Trump said that without a deal, he will strike Iranian power plants next week.

9 hours ago