铂钯数据日报-20260224

1. Report Industry Investment Rating - No information provided on the report industry investment rating 2. Core View of the Report - On February 13, platinum and palladium prices generally declined. The PT2606 contract fell 3.92% to 523.8 yuan/gram, and the PD2606 contract fell 3.1% to 416.8 yuan/gram. During the Spring Festival holiday, overseas platinum and palladium prices rose significantly. As of 15:00 on the 23rd, London spot platinum rose about 6.94% and London spot palladium rose about 5.65%. It is expected that the prices of platinum and palladium on the Guangzhou Futures Exchange may rise significantly after the holiday. [7] - At the macro - level, the US Supreme Court's ruling on IEEPA tariffs being illegal and Trump's new tariff policy have increased market uncertainty. The deadlock in US - Iran negotiations and the increasing possibility of US military action against Iran have boosted the prices of gold and silver, and also provided some impetus for platinum and palladium. [7] - In terms of fundamentals, platinum demand benefits from the development of hydrogen energy and commercial aerospace, and investment demand remains high. The global supply - demand gap in 2026 is maintained, providing support for platinum prices. For palladium, the supply side has changed. Nornickel, the world's largest palladium supplier, expects a 11% year - on - year decrease in production in 2026, and the US Commerce Department's preliminary support for anti - dumping duties on Russian palladium imports (with a tax rate close to 133%) have driven up palladium prices. [7] - In the short term, platinum and palladium may remain relatively strong, but with large fluctuations. Investors are advised to be cautious about chasing the rise after the holiday, as Trump's new tariff policy may affect market sentiment and weaken the short - term upward momentum of the market. [7] 3. Summary According to Relevant Catalogs Domestic Price (yuan/gram) - Platinum futures main contract closing price: 523.8, previous value 544.9, down 3.87% [4] - Spot platinum (99.95%): 520, previous value 543, down 4.24% [4] - Platinum basis (spot - futures): - 3.8, previous value - 1.9, up 100.00% [4] - Lithium futures main contract closing price: 416.8, previous value 430.05, down 3.08% [4] - Spot lithium (99.95%): 414, previous value 434, down 4.61% [4] - Lithium basis (spot - futures): - 2.8, previous value 3.95, down 170.89% [4] International Price (15:00, dollars/ounce) - London spot platinum: 2168.6, previous value 2027.9, up 6.94% [4] - London spot palladium: 1749.514, previous value 1656, up 5.65% [4] - NYMEX platinum: 2180.2, previous value 2026.8, up 7.57% [4] - NYMEX palladium: 1786.5, previous value 1668.5, up 7.07% [4] Internal and External 15:00 Spread (yuan/gram) - Dollar/yuan central parity rate: 6.9398, previous value 6.9457, down 0.08% [4] - Guangzhou platinum - London platinum: - 22.96, previous value 33.18, down 169.19% [4] - Guangzhou platinum - NYMEX platinum: - 25.88, previous value 33.46, down 177.36% [4] - Guangzhou lithium - London palladium: - 24.30, previous value 12.18, down 299.55% [5] - Guangzhou palladium - NYMEX palladium: - 33.62, previous value 9.02, down 472.68% [5] Price Ratio - Guangzhou Futures Exchange platinum/palladium ratio: 1.2567, previous value 1.2671, down 0.0103 [5] - London spot platinum/palladium ratio: 1.2395, previous value 1.2246, up 0.0150 [5] Inventory (troy ounces) - NYMEX platinum inventory: 186269, previous value 186269, unchanged (0.00%) [5] - NYMEX palladium inventory: 578195, previous value 578195, unchanged (0.00%) [5] Position - NYMEX total position of platinum: 69291, previous value 69061, up 0.33% [5] - NYMEX non - commercial net long position of platinum: 12347, previous value 12084, up 2.18% [5] - NYMEX total position of palladium: 16538, previous value 16789, down 1.52% [5] - NYMEX non - commercial net long position of palladium: 513, previous value 492, up 4.09% [5]