Platinum hovers at lows, consumption in the spot market is moderate [SMM Daily Review]

Published: Jun 26, 2026 12:01

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Platinum prices hovered at lows today. On the macro front, the US PCE data met expectations, and worries about Fed rate hikes eased somewhat. In early trading, the most-traded GFEX platinum contract PT2608 closed at 391.00 yuan/g, edging up 0.31%. The inversion spread between the best ask price for SGE platinum 9995 and the most-traded GFEX PT2608 contract narrowed to around 5 yuan/g. Spot side, mainstream platinum quotations were at a discount of 1 yuan/g to a premium of 1 yuan/g against the PT2608 contract, basically flat from yesterday. The vast majority of traders quoted on the higher side. Although closing deals at premium quotes was challenging, some suppliers reported that transactions at quotes near parity were moderate. Most upstream enterprises remained reluctant to sell due to low absolute prices, while downstream users mainly purchased through negotiations based on immediate needs. Overall platinum transactions were normal today. Overall platinum transactions were normal today.

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