铂：板块承压明显；钯：维持悲观观点-20260320

Report Industry Investment Rating - The platinum sector is under significant pressure, and a pessimistic view is maintained for palladium [1] Core View - The report presents the latest data on platinum and palladium, including prices, trading volumes, positions, ETF holdings, inventories, and price spreads, and also provides macro and industry news [1][4] Summary by Relevant Catalogs Fundamental Tracking - Platinum and palladium price data shows a decline, with the platinum futures 2606 closing at 506.95, down 7.49%, and the palladium futures 2606 closing at 371.45, down 7.78% [1] - Trading volume and position data indicate changes, such as the Guangdong platinum trading volume increasing by 6,439 kg to 11,075 kg, and the NYMEX platinum position decreasing by 2,448 kg to 46,217 kg [1] - ETF holdings show the platinum ETF holding 3,166,068 ounces (up 9,999 ounces), and the palladium ETF holding 1,105,170 ounces (down 1,003 ounces) [1] - Inventory data reveals that the NYMEX palladium inventory increased by 44,461 ounces to 245,177 ounces, while the NYMEX platinum inventory remained unchanged at 582,441 ounces [1] - Price spread data shows various changes, like the PT9995 to PT2606 price spread increasing by 10.40 to 3.35 [1] - Exchange rate data shows the US dollar index at 99.23, down 0.58%, and the US dollar to RMB (CNY spot) at 6.88, down 0.38% [1] Macro and Industry News - As of this morning, the interest rate futures market priced the Fed's rate cut this year at only 5.5 basis points, and bets on rate hikes emerged [4] - Trump stated that the US and Qatar were unaware of Israel's attack on Iran's South Pars gas field, and Israel would stop attacking the gas field [4] - The spokesman of Iran's Armed Forces Joint Command said that the retaliatory actions against the attack on Iran's energy infrastructure were not over [4] - Beisente said that sanctions on Iran's offshore oil might be lifted in the next few days, or oil war reserves might be released again [4] - The US Energy Secretary said that the US had no plans to restrict crude oil exports [4] - Iran plans to charge tolls for the Strait of Hormuz [4] - France, the UK, Germany, Italy, the Netherlands, and Japan announced in a joint statement that they were ready to take measures to ensure the safety of the Strait of Hormuz [4] Trend Intensity - Platinum trend intensity is -1, and palladium trend intensity is -1, indicating a bearish outlook [3]