铂钯数据日报-20260316

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View - On March 13, platinum and palladium prices continued to decline. The PT2606 contract closed down 3.72% to 541.6 yuan/gram, and the PD2606 contract closed down 2.43% to 408.1 yuan/gram. The geopolitical conflict between the US and Iran shows no sign of easing, with high oil prices and weakening interest - rate cut expectations, which strengthen the US dollar index and suppress platinum and palladium prices. The global platinum market is expected to face a supply shortage for the fourth consecutive year, providing support for platinum prices, but the suspension in late 2026 and potential palladium market surplus may limit the upside. In the short - term, platinum and palladium are likely to maintain a volatile and downward trend. After the Middle East geopolitical situation becomes clear, investors can consider going long on platinum at low prices or continue to hold the [long platinum, short palladium] strategy [6] 3. Summary by Relevant Catalogs Price Data - Domestic Prices (yuan/gram): Platinum futures主力收盘价 dropped 4.08% to 541.6 from 564.65; spot platinum (99.95%) fell 0.91% to 544 from 549; platinum basis (spot - futures) decreased 115.34% to 2.4 from - 15.65. Palladium futures主力收盘价 declined 2.04% to 408.1 from 416.6; spot palladium (99.95%) remained unchanged at 411; palladium basis (spot - futures) decreased 151.79% to 2.9 from - 5.6 [4] - International Prices (15:00, dollars/ounce): London spot platinum dropped 3.27% to 2100.3 from 2171.358; London spot palladium fell 2.41% to 1609.499 from 1649.252; NYMEX platinum decreased 3.47% to 2094.6 from 2170; NYMEX palladium declined 1.93% to 1625.5 from 1657.5 [4] - Internal - External 15:00 Spread (yuan/gram): The spread of domestic platinum - London platinum decreased 27.17% to 15.05 from 20.66; the spread of domestic platinum - NYMEX platinum decreased 21.55% to 16.47 from 21.00; the spread of domestic palladium - London palladium decreased 34.54% to 3.41 from 4.59; the spread of domestic palladium - NYMEX palladium decreased 56.94% to 0.58 from 1.35 [4][5] - Price Ratios: The ratio of Guangzhou Futures Exchange platinum to palladium decreased to 1.3271 from 1.3554; the ratio of London spot platinum to palladium decreased to 1.3049 from 1.3166 [5] Inventory and Position Data - Inventory (troy ounces): NYMEX platinum inventory remained unchanged at 204,678; NYMEX palladium inventory remained unchanged at 582,441 [5] - Position: NYMEX total platinum position decreased 1.99% to 68,758 from 70,154; NYMEX non - commercial net long position of platinum increased 6.20% to 13,832 from 14,690; NYMEX total palladium position decreased 2.57% to 15,679 from 16,093; NYMEX non - commercial net long position of palladium decreased 196.89% to 161 from - 156 [5]