Platinum Prices Rebounded Slightly Intraday, Spot Market Discount Widened Marginally with Normal Trading [SMM Daily Review]

Published: May 21, 2026 12:06

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Platinum prices stopped falling and rebounded slightly intraday, supported by a rebound in precious metals as concerns over US-Iran tensions eased. Ultimately, the GFEX most-traded platinum contract closed at 483.05 yuan/gram in the morning session, up 0.74%. The SGE Pt9995-GFEX PT2606 spread remained inverted, with the price difference maintained at around 5 yuan/gram. Spot side, mainstream quotations for spot platinum premiums widened slightly compared to the previous trading day, with traders' mainstream morning quotations at parity to a discount of 2 yuan/gram against GFEX PT2606. Transaction side, according to SMM, some suppliers found it difficult to close deals at parity with the GFEX most-traded platinum contract in the morning session, and later adjusted to a discount of around 2 yuan/gram, completing a small volume of transactions as futures prices declined during the morning session. Downstream enterprises negotiated for purchases, and some trading firms engaging in both spot and futures market actively inquired about platinum and palladium warrants. Overall, spot market transactions were normal today.

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