铂钯数据日报-20260330

Report Summary 1. Report Industry Investment Rating - Not provided in the report. 2. Core View - On March 27, the prices of platinum and palladium opened low and moved high but maintained a volatile trend due to the lack of significant positive drivers. PT2606 closed down 0.02% to 493.05 yuan/gram, and PD2606 closed down 0.01% to 358.20 yuan/gram. Geopolitical risks may continue to escalate, and the high oil price may support the real - interest rate at a high level, while the weakening of the US stock market and the decline of the US bond yield support the prices. The decline of the 1 - month palladium lease rate indicates a short - term relief of the palladium shortage, which may limit its upward drive. It is expected that platinum and palladium will probably maintain a range - bound trend in the short term. After the Middle - East geopolitical situation becomes relatively clear, investors can consider buying platinum unilaterally at low prices or continue to hold the [long platinum, short palladium] strategy [6]. 3. Summary by Relevant Catalogs Domestic Prices (yuan/gram) - Platinum futures主力收盘价 rose 1.16% to 493.05 from 487.4; spot platinum (99.95%) fell 2.26% to 475 from 486; platinum basis (spot - futures) increased 1189.29% to - 18.05 from - 1.4. - Lithium futures主力收盘价 rose 1.37% to 358.2 from 353.35; spot lithium (99.95%) fell 1.13% to 348.5 from 352.5; lithium basis (spot - futures) increased 1041.18% to - 9.7 from - 0.85 [4]. International Prices (15:00, dollars/ounce) - London spot platinum rose 0.03% to 1892.8 from 1892.3; London spot palladium fell 0.06% to 1401.427 from 1402.207. - NYMEX platinum rose 0.98% to 1894.5 from 1876.1; NYMEX palladium rose 0.29% to 1406.5 from 1402.5 [4]. Internal - External 15:00 Spread (yuan/gram) - The dollar/yuan mid - price rose 0.12% to 6.9141 from 6.9056. - The spread of domestic platinum - London platinum increased 39.04% to 17.59 from 12.65; the spread of domestic platinum - NYMEX platinum increased 2.68% to 17.17 from 16.72 [4]. Ratios - The ratio of Guangzhou Futures Exchange platinum to lithium changed - 0.0029 to 1.3794 from 1.3765; the ratio of London spot platinum to lithium changed 0.0011 to 1.3495 from 1.3506 [5]. Inventory (Troy Ounces) - NYMEX platinum inventory fell 0.81% to 554241 from 558768; NYMEX palladium inventory remained unchanged at 248374 [5]. Positions - NYMEX total platinum position fell 8.65% to 61473 from 67292; NYMEX non - commercial net long position of platinum fell 4.14% to 16198 from 16898. - NYMEX total palladium position rose 3.13% to 15556 from 15069; NYMEX non - commercial net long position of palladium increased 571.35% to - 185 from - 1242 [5].