供需矛盾持续激化 预计短期铂期货仍偏强运行

Core Viewpoint - The platinum market is experiencing a strong upward trend, driven by supply-demand imbalances and macroeconomic factors, with prices expected to remain robust in the short term [2][3]. Group 1: Market Performance - Platinum futures opened at 482.00 CNY/g and reached a high of 505.60 CNY/g, with a price increase of 3.99% during the trading session [1]. - The trading volume of platinum and palladium has surged, with positions exceeding 1.5 times that of the previous day, indicating strong market activity [2]. Group 2: Supply and Demand Dynamics - The current supply-demand imbalance in the platinum market resembles a structural tightness similar to that of silver, leading to a squeeze in the market [2]. - Short-term supply constraints are providing fundamental support for palladium prices, while the increase in silver prices is also positively impacting platinum and palladium [2][3]. Group 3: Macroeconomic Factors - The macroeconomic environment is favorable for the price increase of platinum and palladium, supported by resilient consumer demand and geopolitical uncertainties affecting the stability of exports from major producing countries [3]. - The current high basis and price differentials between platinum and palladium are attracting arbitrage funds, which are increasing physical inventory and driving up spot prices [2].