US ADP employment data below market expectations, platinum prices stop falling and rebound, spot market cools [SMM daily review]

Published: Sep 3, 2026 12:04

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Platinum futures stopped falling and rebounded today. US ADP employment data for August, released on the evening of September 2, showed 38,000 jobs added, below market expectations of 48,000. The July figure was revised up to 46,000, marking the lowest increase this year. The labor market cooled further, and the data reduced the probability of a US Fed rate hike in September, with precious metals futures holding up well. In morning trading, the most-traded GFEX platinum contract PT2610 closed at 436.5 yuan/g, up 2.54%. The price spread between the best ask price for SGE Pt9995 and the GFEX PT2610 contract remained around 3 yuan/g.
In the spot market, mainstream quotations for platinum were at a discount of around 2.5 yuan/g against the PT2610 contract. As futures rebounded, trading sentiment cooled somewhat, downstream demand weakened, and purchases were made cautiously on an as-needed basis. Overall, platinum market trading was sluggish today.

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