China Platinum Price Today in USD
Live Chinese platinum price in dollars from the Guangzhou Futures Exchange (GFEX), with the China premium vs COMEX.
Platinum Price in Yuan: China vs Western
China benchmark and Western spot in Chinese yuan per gram (¥/g)
Where China's platinum price comes from
Until late 2025, China had no liquid domestic platinum benchmark, local prices were quoted off imported metal and Western futures. That changed when the Guangzhou Futures Exchange (GFEX) launched platinum futures in November 2025, giving China its own price-discovery venue for the metal. GFEX quotes platinum in Chinese Yuan per gram, and that settlement is now the reference Chinese refiners, jewelers, and autocatalyst manufacturers use. When you search for the "China platinum price," the GFEX contract is the number you are looking for.
Why China matters for platinum
China is one of the world's largest platinum consumers, but produces almost none of it, roughly 70% of global platinum supply comes from South Africa. Demand is driven by automotive catalytic converters, a large jewelry industry, and industrial uses in glass, electronics, and chemical catalysts. Because nearly every ounce is imported, the China platinum price is sensitive to shipping and customs timing, the USD/CNY exchange rate, and shifts in auto and jewelry demand, which is why it can diverge meaningfully from the COMEX price.
Converting China's platinum price into US dollars
GFEX quotes platinum in CNY per gram. To compare with the COMEX price (quoted in USD per troy ounce), one currency conversion and one unit conversion are needed:
Price (USD/oz) = Price (CNY/g) × 31.1035 ÷ (USD/CNY rate)
31.1035 is the number of grams in a troy ounce. The live price card above handles this automatically using the real-time USD/CNY rate and the latest GFEX settlement for the most-active contract.
Reading the China platinum premium
The gap between the GFEX price and COMEX is the China platinum premium, a real-time read on domestic demand versus available imported supply. Because platinum is thinly traded compared with gold and silver, the premium tends to move in larger steps:
- Premium widening: Chinese buyers are paying up for metal , often a sign of strong autocatalyst or jewelry demand outpacing imports.
- Premium near zero: imports have caught up with demand, or Western and Chinese markets are in step.
- Discount (negative premium): weaker domestic demand or a stronger Yuan making local platinum look cheap relative to COMEX.
For the full arbitrage-focused view, historical premium ranges and the GFEX-vs-COMEX spread methodology, see our GFEX platinum premium page.
GFEX vs COMEX platinum at a glance
| Feature | GFEX (Guangzhou) | COMEX (New York) |
|---|---|---|
| Contract size | 1,000 g (~32.15 oz) | 50 troy oz |
| Currency | Chinese Yuan (CNY) | US Dollar (USD) |
| Trading hours | 9:00-11:30, 13:30-15:00 BJT | Nearly 24h (Sun-Fri) |
| Launched | November 2025 | Established market |
Frequently Asked Questions
- How is the China platinum price set?
- China's domestic platinum price is discovered on the Guangzhou Futures Exchange (GFEX), which launched platinum futures in November 2025. GFEX quotes platinum in Chinese Yuan per gram (CNY/g) during Beijing trading hours. We convert that to US dollars per troy ounce using the live USD/CNY rate so it can be compared directly with the COMEX platinum price.
- Why does platinum in China trade at a different price than the US?
- China is one of the largest platinum consumers, for autocatalysts, jewelry, glass, and chemical catalysts, but imports nearly all of its platinum, since roughly 70% of global supply comes from South Africa. Import logistics, demand swings, and a non-convertible Yuan keep the GFEX price from tracking COMEX exactly, producing a China premium (or, occasionally, a discount).
- What's the difference between the China platinum price and the GFEX platinum price?
- They are effectively the same thing. 'China platinum price' is the general phrasing; the GFEX contract is the venue that publishes China's domestic platinum price. Because GFEX is China's first liquid platinum futures market, its settlement is the reference for the China platinum price.
- Why is the China platinum premium more volatile than gold or silver?
- Platinum is primarily an industrial metal with a smaller, less liquid market than gold or silver. Its premium reflects autocatalyst demand cycles, jewelry buying, and import timing rather than broad investment flows, so it swings more sharply when any one of those shifts.
- Can I buy platinum at the China price from outside China?
- Not directly, GFEX access is restricted to qualified domestic participants, and the contract settles in Yuan. International investors track the GFEX-implied China platinum price as a demand signal and trade COMEX platinum (PL) or platinum ETFs for exposure.