Platinum Prices Stop Falling and Rebound, Spot Market Transactions Normal [SMM Daily Review]

Published: Jul 15, 2026 14:09

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Platinum prices stopped falling and rebounded today as US June CPI data was released, with the MoM reading recording its first pullback in six years. The dovish CPI data cooled market expectations for interest rate hikes, driving broad gains in precious metals. In morning trading, the most-traded platinum contract on the GFEX, PT2608, closed at 404.75 yuan/g, up 2.35%, and the inverted spread between the SGE Pt 9995 best ask price and GFEX PT2608 held around 4 yuan/g. In the spot market, mainstream quotations for platinum ranged from a discount of 1 yuan/g to a premium of 1 yuan/g against the PT2608 contract, with the discount level largely unchanged from the previous trading day. Suppliers’ warehouse warrant quotations were mainly on par with or at slight premiums to the most-traded GFEX contract. Spot quotations tended toward the mid-to-low end, with traders actively purchasing at the low end of the quotation range due to inter-month spread opportunities, while downstream buyers negotiated and made just-in-time procurement. Overall, trading in the platinum spot market was normal today.

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