华泰期货：铂钯双合约首次涨停，后市怎么看？

Core Viewpoint - The platinum and palladium futures contracts have experienced a simultaneous limit-up for the first time since their listing on November 27, indicating a shift in market focus from gold and silver to platinum and palladium [2][6]. Group 1: Market Performance - The platinum main contract (2606) closed at 527.55 CNY/gram, while the palladium main contract (2606) closed at 455.15 CNY/gram [2][6]. - Both platinum and palladium contracts have seen a significant increase in open interest, reflecting optimistic sentiment from investors regarding their medium to long-term trends [2][6]. Group 2: Supply and Demand Factors - Supply disruptions from South Africa and Russia continue to pose challenges, impacting the market dynamics for platinum and palladium [2][6]. - The current price surge is driven by a tight supply-demand balance, macroeconomic easing policies, and an influx of capital into these precious metals [2][6]. Group 3: Technical Analysis and Investment Strategy - The recent price movements have broken through key resistance levels, opening up new upward potential for these metals [2][6]. - While short-term fluctuations may occur, a bullish trend has been established for the medium to long term, suggesting that investors should seize opportunities during price corrections and consider the investment potential from the platinum-palladium price ratio recovery [2][7].