Platinum Prices Under Pressure Intraday, Spot Market Trading Normal [SMM Daily Review]

Published: May 20, 2026 12:03

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Platinum prices were under pressure during the intraday session. Ultimately, the GFEX most-traded platinum contract closed at 478.45 yuan/gram in the morning session, down 2.70%. The SGE Platinum 9995 versus GFEX PT2606 remained in inversion, with the price spread maintained at 5-10 yuan/gram. Spot side, mainstream quotations for spot platinum premiums continued to narrow compared to the previous trading day. In the morning session, traders' mainstream quotations were at parity to a discount of 1 yuan/gram against the GFEX PT2606 contract. Transaction side, according to SMM, some suppliers found it difficult to close deals at premium quotations against the GFEX most-traded platinum contract in the morning session, and subsequently adjusted to parity to slight discount quotations, with transactions gradually completed. With the recent decline in futures, downstream inquiries increased. The market generally reflected that due to relatively low absolute prices, upstream shipments were limited, and some traders chose to wait for delivery, resulting in tight spot supply and fewer spot quotations. Overall, spot market transactions were normal today.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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