Does the SGE trade platinum?

Yes. The SGE offers one platinum contract: Pt99.95, a spot contract for 99.95% purity physical platinum. Prices are quoted in Chinese yuan per gram. Trading volume is lower than gold or silver contracts, but it provides a direct measure of Chinese platinum pricing.

How does SGE platinum pricing compare to COMEX?

SGE platinum (Pt99.95) is quoted in CNY per gram, while COMEX platinum futures are quoted in USD per troy ounce. To compare, you need to convert currencies and units (1 troy ounce = 31.1035 grams). The SGE price may trade at a premium or discount to COMEX depending on Chinese demand and import dynamics.

Why is SGE platinum volume lower than gold?

Gold dominates SGE trading because of China's cultural affinity for gold and the PBOC's role in managing gold imports. Platinum has more limited retail investment demand in China, though industrial and jewelry demand remain significant.

SGE Platinum Trading

Shanghai Gold Exchange Pt99.95 contract prices and trading data

Gold Silver Platinum

About SGE Platinum

Pt99.95 is the only platinum contract available on the Shanghai Gold Exchange. It is a spot contract for 99.95% purity physical platinum, quoted in Chinese yuan per gram. While platinum trading volume on the SGE is lower than gold and silver, it remains an important venue for Chinese platinum pricing and physical delivery. There is no platinum benchmark fixing or T+D deferred contract on the SGE.

SGE Platinum Contract Details

The Pt99.95 contract is a physical spot contract requiring full payment and delivery of 99.95% pure platinum bars through SGE-certified vaults. The contract unit is 1 kilogram, and prices are quoted in CNY per gram. Unlike gold and silver, the SGE does not offer a deferred settlement (T+D) contract for platinum, which limits leveraged trading opportunities.

SGE platinum trading volume is significantly smaller than gold or silver. This reflects both the smaller size of the global platinum market and the more limited retail investment demand for platinum in China compared to gold. However, for participants involved in the Chinese platinum supply chain -- jewelers, industrial users, and refiners -- the SGE provides the primary domestic pricing mechanism.

Compared to NYMEX platinum futures (PL), the SGE Pt99.95 contract is purely physical with no cash settlement option. NYMEX platinum trades in USD per troy ounce with monthly expirations, while SGE platinum is a continuous spot market. The two prices can diverge based on Chinese import demand, currency movements, and local supply conditions.

China's Platinum Demand

China is one of the world's largest platinum consumers, with demand driven by two primary sectors: jewelry and automotive catalytic converters. Chinese platinum jewelry demand has historically been the largest single-country source of platinum jewelry fabrication, though it has faced competition from gold and palladium in recent years.

The automotive sector represents a growing source of Chinese platinum demand. As China tightens vehicle emission standards (China VI and beyond), platinum-based catalytic converters are increasingly required for diesel vehicles and are being adopted for gasoline vehicles as well. The shift toward hydrogen fuel cells, which use platinum as a catalyst, could further increase long-term demand.

SGE platinum prices and trading activity reflect these domestic demand dynamics. When jewelry or industrial demand strengthens, the SGE platinum price tends to trade at a premium to international benchmarks. Monitoring SGE platinum alongside NYMEX and LBMA platinum prices provides a window into how Chinese demand is influencing the global platinum market.

Data Sources & Methodology

SGE platinum trading data displayed on MetalCharts is sourced from the Shanghai Gold Exchange's official daily trading reports. This includes open, high, low, close prices, trading volume, and turnover for the Pt99.95 contract.

Unlike gold and silver, the SGE does not publish a benchmark fixing price or weekly delivery/inventory reports for platinum. Trading data is the primary dataset available.

Data is updated daily after the SGE market close (3:30 PM CST / 7:30 AM UTC). USD-equivalent prices are calculated using the prevailing CNY/USD exchange rate and the conversion factor of 31.1035 grams per troy ounce. Historical data is available for charting and analysis.

Frequently Asked Questions

Does the SGE trade platinum?: Yes. The SGE offers one platinum contract: Pt99.95, a spot contract for 99.95% purity physical platinum. Prices are quoted in Chinese yuan per gram. Trading volume is lower than gold or silver contracts, but it provides a direct measure of Chinese platinum pricing.
How does SGE platinum pricing compare to COMEX?: SGE platinum (Pt99.95) is quoted in CNY per gram, while COMEX platinum futures are quoted in USD per troy ounce. To compare, you need to convert currencies and units (1 troy ounce = 31.1035 grams). The SGE price may trade at a premium or discount to COMEX depending on Chinese demand and import dynamics.
Why is SGE platinum volume lower than gold?: Gold dominates SGE trading because of China's cultural affinity for gold and the PBOC's role in managing gold imports. Platinum has more limited retail investment demand in China, though industrial and jewelry demand remain significant.