Platinum prices consolidated on a subdued note today, as market caution ahead of non-farm payrolls data, combined with hawkish signals released by US Fed officials, suppressed the sustained upward momentum of precious metals. In the morning session, the most-traded GFEX platinum contract PT2610 closed at 431 yuan/g, down 1.71%. The inverted price spread between the Shanghai Gold Exchange platinum 9995 best ask price and GFEX PT2610 narrowed to around 2 yuan/g. Spot side, mainstream quotations for platinum were at a discount of 3.5 to 2.5 yuan/g against the PT2610 contract. As downstream consumption willingness was limited amid recent futures price rises, the mainstream quotation discount was basically flat compared with yesterday, with a large price spread between bids and offers. Traders' warehouse warrant offers were relatively firm, concentrated near a discount of 2 yuan/g against the most-traded GFEX contract. Overall, platinum spot market consumption remained sluggish today.

As of now, the FOB price of Indonesian MHP nickel is $15,273/mt Ni, and the FOB price of Indonesian MHP cobalt is $47,840/mt Co. The MHP payables (against the SMM battery-grade nickel sulphate index) is 82.5-83.5, and the MHP cobalt payable indicator (against SMM refined cobalt (Rotterdam warehouse)) is 90. The FOB price of Indonesian high-grade nickel matte is $15,700/mt Ni.

[SMM Daily Review: Silver Prices Retreat from Highs Ahead of Non-Farm Payrolls Data, Market Awaits Data Guidance] SMM, August 7 – Hawkish comments and job market resilience weighed on silver prices, with the market focused on tonight's non-farm payrolls data. Spot cargo transactions remained weak, the spot-futures price spread was in a stalemate, and traders showed low willingness to offer.

Platinum prices continued to hold up well today. Data showed that the US ADP employment change for July was 44,000, below market expectations of 70,000, with the prior figure at 98,000. Spot gold broke above the $4,300/oz mark for the first time since June 18. In the morning session, GFEX's most-traded platinum futures contract PT2610 settled at 435.05 yuan/g, up 1.05%. The inverted spread between the best ask price of SGE platinum 9995 and GFEX PT2610 narrowed to around 3 yuan/g. In the spot market, mainstream platinum quotations were at discounts of 4-2 yuan/g against the PT2610 contract. As futures continued to rise, downstream buying interest remained low, causing mainstream quotation discounts to widen slightly, and the bid-ask spread widened simultaneously. Traders' warehouse warrant offers were relatively firm, concentrated near a discount of 2.5 yuan/g to GFEX's most-traded contract. Overall, trading in the platinum spot market remained sluggish today.

[SMM Daily Review: Weaker ADP Data Boosts Silver Prices; Spot Demand and Trading Sluggish] SMM, August 6 – The US ADP employment hit a new low for the year, expectations for interest rate cuts intensified, and silver prices rebounded. Spot market silver prices rose, suppressing purchase willingness. Transactions were concentrated near parity, and demand remained sluggish.

[SMM Daily Review: Aug 5 Spot Lithium Carbonate Prices Consolidate Higher] Today, SMM battery-grade lithium carbonate spot price consolidated higher compared to the previous trading day. The lithium carbonate 2609 contract opened lower at 139,700 yuan/mt, briefly dipped to 138,300 yuan/mt after opening and then found support, with bulls stepping in to push prices to consolidate and rebound; in the morning session, prices fluctuated on the strong side in the 140,000-142,000 yuan/mt range, and the center gradually moved higher despite some back-and-forth; near midday, bulls and bears consolidated in a tug-of-war in the 141,500-142,500 yuan/mt range; in the afternoon, bulls continued to push, and prices consolidated higher; near the close, concentrated capital inflows drove prices quickly up to 144,300 yuan/mt, hitting an intraday high, then pulled back slightly on some profit-taking, settling around 143,200 yuan/mt, finally closing up 2.61% at 143,200 yuan/mt. Open interest decreased by 9,640 lots. In the spot market, downstream buyers purchased as needed on dips. Some downstream buyers saw increased spot order demand as upstream lithium chemical plants' maintenance reduced long-term contract volumes; upstream lithium chemical plants remained cautious in selling spot cargoes, with those having maintenance plans focusing on securing long-term contract supplies this month, while some lithium chemical plants showed signs of loosening their intent to hold prices firm. Overall, market inquiries and actual transactions were relatively stable.