铂：总体偏弱钯：低位震荡

Report Industry Investment Rating - No information provided Core View of the Report - The platinum market is generally weak, while the palladium market is in a low - level shock [2][3] Summary According to Relevant Catalogs Platinum and Palladium Fundamental Data - Price: Platinum futures 2606 closed at 493.05 with a 1.16% increase; gold - exchange platinum was at 477.04 with a - 1.55% change; New York platinum main - continuous (previous day) was 1866.40 with a 2.93% increase; London spot platinum (previous day) was 1864.20 with a 2.51% increase. Palladium futures 2606 was 358.20 with a 1.37% increase; RMB spot palladium was 330.00 with a - 2.08% change; New York palladium main - continuous (previous day) was 1384.50 with a 1.43% increase; London spot palladium (previous day) was 1379.49 with a 1.51% increase [2] - Trading Volume and Position: Guangzhou platinum trading volume was 6,046 kg, up 531 kg from the previous day, and the position was 21,567 kg, up 107 kg. NYMEX platinum trading volume was 32,520 kg, up 9,221 kg, and the position was 69,201 kg, up 5,734 kg. Guangzhou palladium trading volume was 2,932 kg, down 472 kg, and the position was 8,685 kg, up 111 kg. NYMEX palladium trading volume was 11,857 kg, down 2,022 kg, and the position was 46,425 kg, up 992 kg [2] - ETF Position: Platinum ETF position (ounces, previous day) was 3,058,856, down 8,622; palladium ETF position (ounces, previous day) was 1,049,686, up 81 [2] - Inventory: NYMEX platinum inventory (ounces, previous day) was 554,241, down 4,527; NYMEX palladium inventory (ounces, previous day) was 248,374, unchanged [2] - Price Spread: PT9995 to PT2606 price spread was - 16.01, down 13.16 from the previous day; Guangzhou platinum 2606 contract to 2610 contract spread was 3.70, up 1.20; the cost of buying Guangzhou platinum 2606 and selling 2610 inter - period arbitrage was 6.11, up 0.07. The spread between Guangzhou platinum main contract and London platinum (considering VAT) was 24.97, down 6.51. The spread between RMB spot palladium price and PD2606 was - 28.20, down 11.85. Guangzhou palladium 2606 contract to 2610 contract spread was 0.70, up 1.35; the cost of buying Guangzhou palladium 2606 and selling 2610 inter - period arbitrage was 4.51, up 0.06. The spread between Guangzhou palladium main contract and London palladium (considering VAT) was 12, down 0.81 [2] - Exchange Rate: The US dollar index was 100.18, up 0.54%; the US dollar against RMB (CNY spot) was 6.91, unchanged; the US dollar against offshore RMB (CNH spot) was 6.92, up 0.03%; the US dollar against RMB (6M forward) was 6.82, up 0.38% [2] Trend Intensity - Platinum trend intensity is 0, and palladium trend intensity is 0. The trend intensity ranges from - 2 to 2, with - 2 being the most bearish and 2 being the most bullish [5] Other News - Middle East Situation: Houthi rebels claim to attack important Israeli military targets, and relevant military operations will continue. The Israeli military chief says the Israeli regular forces have collapsed. The Iranian military says it hit a US warship far from the Omani port of Salalah. Saudi Arabia's east - west oil pipeline has a daily oil - transportation capacity of 7 million barrels. US Marines arrive in the area of responsibility of the US Central Command. The Israeli military says it is close to completing the attack on about 90% of Iran's key military industrial facilities. The production base of UAE's Global Aluminium is damaged in the attack, and Bahrain Aluminium says its facilities are attacked by Iran on Saturday [4] - Other Events: Zelensky says Ukraine has reached defense cooperation agreements with Saudi Arabia, Qatar, and the UAE, involving joint production of drones. The last member of the initial creation team of Musk's Xai leaves the company. Tesla plans to double the scale of its service - center network in Japan. There are "Reject the King" rallies across the US against Trump. Vance wins the 2028 presidential preference vote at the Conservative Political Action Conference. Kuwaiti crude oil prices rise above $118. Malaysia says Iran allows Malaysian tankers to pass through the Strait of Hormuz; Thailand reaches an agreement with Iran on the passage of its tankers through the Strait of Hormuz; two more LPG tankers bound for India leave the Persian Gulf through the Strait of Hormuz; Pakistan says Iran has agreed to let 20 more Pakistani vessels pass through the Strait of Hormuz [6]