Guoxin Futures: Policy Favorable Factors Drive Palladium and Platinum to Rebound with Volatility

K-LinePoet · 2026-03-28T10:47:06+00:00

The platinum group metals market performed strongly, with platinum and palladium prices rising by 4.27% and 2.30%, respectively. Policy favorable factors and easing geopolitical tensions have driven demand higher, but the market still faces volatility. It is recommended to cautiously monitor macro trends and geopolitical developments in operations.

K-LinePoet

2026-03-28 10:47:06

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The platinum group metals market has performed well, with platinum significantly rising to lead the sector. The main platinum contract on the Shanghai Futures Exchange increased by 4.27%, reaching 552.70 yuan/gram; the main palladium contract rose by 2.30%, reaching 407.75 yuan/gram.
The strong rebound in platinum and palladium is driven by multiple favorable factors. First, there is good news from the policy front. On March 16, the Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission jointly deployed a pilot program for the comprehensive application of hydrogen energy, clearly promoting large-scale applications of hydrogen energy in transportation, industry, and other fields. Platinum, as the core catalyst for proton exchange membrane fuel cells and water electrolysis for hydrogen production, is irreplaceable, and the implementation of the pilot program will directly boost its long-term demand. Second, market concerns about geopolitical situations have eased marginally, with reduced expectations for transportation disruptions in the Strait of Hormuz, and falling oil prices have alleviated high inflation anxiety, boosting market risk appetite.
In the short term, the platinum and palladium market will continue to show a volatile pattern, with increased fluctuations. Although favorable policies boost sentiment, the current market remains highly sensitive, with price trends largely dominated by macro expectations and geopolitical situations. Technically, the main platinum contract on the Shanghai Futures Exchange has support around 520 yuan/gram and is expected to test resistance upwards; the main palladium contract should focus on support near 390 yuan/gram, with resistance looking towards the 420 yuan/gram region. It is advised to be cautious in trading, watch for signals from the Federal Reserve’s March meeting, and closely monitor developments in the Middle East. (Guoxin Futures)

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