Platinum futures on the Guangzhou Futures Exchange (GFEX) fell as Chinese markets reopened after the week-long National Day holiday. The most-traded contract dropped 3.37%. It was priced at 406.05 yuan per gram.
The decline reflected a catch-up to overseas market moves while China’s markets were closed, including a stronger U.S. dollar and rising Treasury yields. Lower futures prices prompted traders and downstream users to buy physical platinum, tightening immediate spot supply.
Some analysts said resilient industrial consumption could support prices, particularly as demand for platinum group metal compounds recovers in China’s chemical sector. Chemical plants have completed maintenance and resumed production, leading to increased catalyst procurement.