Platinum Prices Continued to Fluctuate Upward, While Trading in the Spot Market Was Relatively Light [SMM Daily Review]

Published: Apr 1, 2026 16:06

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Platinum prices held up well today, with the most-traded platinum contract PT2606 on the Guangzhou Futures Exchange closing at 494.2 yuan/g, up 2.27%. In the spot market, spot platinum was quoted in early trading at a discount of 7-9 yuan/g against PT2606, or around parity against the SGE sell-1 price, with spot discounts unchanged from the previous trading day. In terms of spot transactions, SMM learned that cargo-holding traders reported fewer market orders and weak consumption. Some trading firms engaging in both spot and futures market actively inquired for quotes in search of spot-futures price spread opportunities, with purchase indications around a discount of 9 yuan/g against the Guangzhou Futures Exchange. Downstream players mostly stayed on the sidelines, and some enterprises reported relatively sufficient stockpiles with no procurement demand for the time being. Overall spot market transactions were subdued.

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