铂钯数据日报-20260203

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report - On February 2, platinum and palladium prices hit the daily limit down. The PT2606 contract fell 1694 to 552.1 yuan/gram, and the PD2606 contract fell 1696 to 413.7 yuan/gram [6]. - Macroscopically, the easing of US - Iran geopolitical tensions, strong US January ISM manufacturing index, and continued selling in the precious metals market exerted pressure on platinum and palladium. Fundamentally, Trump's 12 - billion - dollar key mineral strategic reserve talks and the EU's consideration of new sanctions on Russian platinum exports supported platinum and palladium, especially palladium [6]. - In the short term, platinum and palladium prices are expected to fluctuate widely, and palladium may perform stronger than platinum. In the long - term, platinum and palladium have different supply - demand prospects. Platinum still has a supply gap, while palladium tends to have a loose supply. It is recommended to allocate platinum at low levels unilaterally or continue to focus on the "long platinum, short palladium" arbitrage strategy [6]. 3. Summary by Relevant Catalogs Price Data - Domestic Prices (yuan/gram): - Platinum futures主力 closing price: 413.7 (previous 464.05, - 10.85%) [4]. - Spot platinum (99.95%): 550.5 (previous 629.5, - 12.55%) [4]. - Platinum basis (spot - futures): 136.8 (previous 165.45, - 17.32%) [4]. - Palladium futures主力 closing price: 464.05 (previous 526.6, - 11.88%) [4]. - Spot palladium (99.95%): 432 (previous 476, - 9.24%) [4]. - Palladium basis (spot - futures): - 32.05 (previous - 50.6, - 36.66%) [4]. - International Prices (15:00, dollars/ounce): - London spot platinum: 1934.9 (previous 2431.2, - 20.41%) [4]. - London spot palladium: 1612.038 (previous 1855.505, - 13.12%) [4]. - NYMEX platinum: 1919.7 (previous 2414.4, - 20.49%) [4]. - NYMEX palladium: 1572.5 (previous 1863.5, - 15.62%) [4]. - Internal - External 15:00 Spread (yuan/gram): - Yuan - London platinum spread: - 76.22 (previous - 151.39, - 49.65%) [4]. - Guangzhou platinum - NYMEX platinum spread: - 72.38 (previous - 147.14, - 50.81%) [4]. - Guangzhou palladium - London palladium: 56.89 (previous 55.88, - 1.79%) [5]. - Guangzhou palladium - NYMEX palladium: 65.89 (previous 54.87, 20.08%) [5]. - Ratio Data: - Guangzhou Futures Exchange platinum/palladium ratio: 0.8915 (previous 0.8812, change 0.0103) [5]. - London spot platinum/palladium ratio: 1.2003 (previous 1.3103, - 0.1100) [5]. Inventory and Position Data - Inventory (troy ounces): - NYMEX platinum inventory: 655182 (no change) [5]. - NYMEX palladium inventory: 224021 (no change) [5]. - Position: - NYMEX total position of platinum: 79009 (previous 79441, - 0.55%) [5]. - NYMEX non - commercial net long position of platinum: 13922 (previous 15124, - 7.95%) [5]. - NYMEX total position of palladium: 19167 (previous 19123, 0.23%) [5]. - NYMEX non - commercial net long position of palladium: 684 (previous 888, - 22.97%) [5].