SMM

Platinum futures were in the doldrums during the day. In the morning session, the most-traded PT2606 contract on the Guangzhou Futures Exchange closed at 615.3 yuan/gram, down 0.44%. Spot side, domestic platinum spot quotations against the GFEX PT2606 contract were at discounts of 8-12 yuan/gram, or against the SGE sell 1 at premiums of 0-4 yuan/gram, with premiums slightly raised WoW. According to SMM, some traders indicated that platinum supply is relatively tight approaching year-end, while downstream purchases remain cautious. The market is still mainly supported by speculative demand, and the spot market overall shows weak supply and demand.