China Platinum Price Today - GFEX Platinum Premium (XPT)
Track the live GFEX platinum settlement price from the Guangzhou Futures Exchange vs Western NYMEX platinum futures. Monitor the China platinum premium and analyze historical price divergence between Chinese and international markets.
GFEX Platinum Price Today in USD | China Platinum Price
Track the China platinum price in dollars from GFEX vs NYMEX futures
Prices for informational purposes only. Not financial advice. The site is still in beta and there may be inaccuracies.
Price Comparison
GFEX vs Western platinum futures prices ($/oz)
What is the GFEX Platinum Premium?
The GFEX platinum premium measures the price difference between platinum futures on China's Guangzhou Futures Exchange and Western COMEX futures. When GFEX platinum trades above COMEX prices, it indicates strong Chinese demand for physical platinum relative to available supply. This premium reflects import costs, logistics, currency effects, and the balance of domestic industrial and investment demand.
China's Role in Global Platinum Demand
China is one of the world's largest platinum consumers, driven by automotive catalytic converter manufacturing, jewelry fabrication, and industrial applications including glass production, electronics, and chemical catalysts. The Chinese auto industry's scale makes it a major source of platinum demand for emission control systems. As China transitions toward stricter emission standards, platinum demand for diesel and hybrid catalytic converters remains significant even as EV adoption grows.
GFEX vs COMEX Platinum Futures
Understanding the structural differences between GFEX and COMEX platinum futures explains why prices can diverge.
| Feature | GFEX (Guangzhou) | COMEX (New York) |
|---|---|---|
| Contract Size | 1,000 grams (~32.15 oz) | 50 troy ounces |
| Currency | Chinese Yuan (CNY) | US Dollar (USD) |
| Trading Hours | 9:00-11:30, 13:30-15:00 BJT | Nearly 24 hours (Sun-Fri) |
| Demand Drivers | Auto catalysts, jewelry, industry | Global hedging, speculation, ETFs |
| Launch | November 2025 | Established market |
Data Sources & Methodology
GFEX platinum settlement prices are sourced from the Guangzhou Futures Exchange daily settlement data for the most-active contract (highest volume). Western prices come from COMEX platinum futures (PL) daily close.
Price conversion: GFEX quotes platinum in Chinese Yuan per gram (CNY/g). We convert to US Dollars per troy ounce (USD/oz) using the formula: Price (USD/oz) = Price (CNY/g) x 31.1035 / Exchange Rate (CNY/USD).
Note: The current USD/CNY exchange rate is used for all historical conversions. This simplifies comparison but means historical premiums may differ slightly from what was observed at the time due to exchange rate changes.
Frequently Asked Questions
- What is GFEX and why does it trade platinum?
- The Guangzhou Futures Exchange (GFEX) is China's newest futures exchange, established in 2021. It launched platinum and palladium futures in November 2025 to provide Chinese industrial users and investors with domestic price discovery for platinum group metals (PGMs). China is a major platinum consumer for automotive catalysts, jewelry, and industrial applications.
- How does the GFEX platinum premium compare to the Shanghai gold premium?
- The GFEX platinum premium tends to be more volatile than the Shanghai gold premium because platinum is primarily an industrial metal with a smaller, less liquid market. Gold's premium is driven by massive jewelry and investment demand, while platinum's premium reflects industrial supply chains, autocatalyst demand, and import logistics.
- What are GFEX platinum contract specifications?
- GFEX platinum futures have a contract size of 1,000 grams (approximately 32.15 troy ounces). Delivery months are January, March, May, July, September, and November. Trading hours are 9:00-11:30 AM and 1:30-3:00 PM Beijing time. There is currently no night trading session for GFEX PGM contracts.
- Why might GFEX platinum trade at a premium or discount to COMEX?
- A premium indicates strong Chinese demand relative to supply, while a discount suggests weaker domestic demand. Factors include: Chinese auto industry production levels, jewelry demand patterns, import costs and logistics, USD/CNY exchange rate movements, and global platinum supply from South Africa (which produces ~70% of world platinum).