Platinum consolidated stronger in early trading; spot market discounts narrowed with normal transactions [SMM Daily Review]

Published: Sep 16, 2026 12:12

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Platinum consolidated higher today. The US Fed will announce its rate decision and dot plot at the September FOMC meeting at 02:00 Beijing time on September 17, with the press conference by Warsh scheduled for 02:30. Ahead of the decision, the market remained cautious, with funds actively trimming exposure. Although expectations for this rate hike have been largely priced in, the market still focused on the dot plot's guidance for the remaining rate path this year and Warsh's remarks on inflation risks. Near-term trading tended to converge as participants awaited the policy outcome in the early morning.
In morning trading, the most-traded GFEX platinum contract PT2610 closed at 438.9 yuan/g, up 1.77%. The price spread between the best ask price for SGE platinum 9995 and the GFEX PT2610 contract held near 6 yuan/g. In the spot market, mainstream quotations for platinum were at a discount of around 0.5 yuan/g against the PT2610 contract. The discount on mainstream quotations continued to narrow from yesterday. Suppliers held prices firm, while the spread between quotations was relatively small. Downstream buyers purchased as needed based on orders. Overall, trading in the platinum spot market was moderate today.

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