美伊谈判扰动市场情绪，铂钯震荡运

Group 1: Report Overview - The report is a daily report on non - ferrous metals by CITIC Futures Research, dated February 27, 2026 [1] Group 2: Market Performance - On February 26, 2026, the platinum main contract on the Guangzhou Futures Exchange rose 2.00% to 589.5 yuan/gram, while the palladium main contract fell 2.27% to 446.55 yuan/gram [2] Group 3: Platinum Analysis Core View - The price of platinum is expected to be volatile and moderately strong in the medium to long term due to healthy supply - demand fundamentals and positive macro expectations [3] Main Logic - The US Supreme Court's ruling on tariffs and Trump's attitude towards tariffs have raised market risk - aversion sentiment, strengthening the precious metals sector. The progress of US - Iran negotiations also affects market sentiment. In the long run, the US is in an interest - rate cut channel, and factors like the Fed's impaired independence and the loosening of the global political and economic order weaken the US dollar's credit, which is conducive to the release of platinum's long - term price elasticity [3] Group 4: Palladium Analysis Core View - The price of palladium is expected to be volatile and moderately strong in the medium to long term, supported by short - term spot shortages and a better macro - environment [4] Main Logic - On the supply side, the US's anti - dumping preliminary ruling on Russian unforged palladium and Europe's consideration of new sanctions on Russian palladium have led to supply uncertainties and a tight spot market, supporting prices. On the demand side, palladium still faces structural pressure. Although the long - term supply - demand situation tends to be loose, short - term spot shortages and the Fed's interest - rate cut expectations provide clear support for prices [4] Group 5: Index Performance Special Index - The commodity index was 2434.44, up 0.12%; the commodity 20 index was 2790.14, up 0.23%; the industrial products index was 2314.11, down 0.02% [51] Sector Index (Non - ferrous Metals) - On February 26, 2026, the non - ferrous metals index was 2719.10, with a daily increase of 0.33%, a 5 - day increase of 0.26%, a 1 - month decrease of 3.26%, and a year - to - date increase of 1.23% [53]