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Platinum and Palladium Futures and Options Begin Trading Today
Release time:
27 Nov,2025
Platinum and palladium futures and options, which have been highly anticipated by the industry and financial sectors, was listed for trading on 27, November and opened with a gain of over 10%. Bian Jiang, Vice President and Secretary-General of the Precious Metals Industry Committee of CRRA (CPMIC), and Song Jiangzhen, Deputy Director of the Decision Support Center of CPMIC, were invited to attend the opening ceremony and a PGM industry symposium aiming to serve the platinum group metals industry.
The listing of platinum and palladium futures and options aims to facilitate the integration of platinum and palladium industry chain enterprises with the futures market. The core of this integration lies in enabling futures instruments to precisely serve the risk management needs of the real economy and promote deeper market development. Enterprises need to change their mindset and deeply embed futures instruments into their production, operations, and risk management systems; the futures industry also needs to provide more precise services. This is not only crucial for the sound operation of individual enterprises but also key to enhancing China's pricing influence in important strategic resources.
For companies involved in the production, processing, trading, and use of platinum and palladium, proactively learning and applying futures instruments is no longer an option, but a mandatory course. Companies should assemble professional teams that are proficient in both spot market operations and financial instruments, and establish strict hedging management systems that clearly define risk authorization, trading processes, and risk control measures to ensure that futures instruments are used for risk hedging rather than speculation. Actively participating in futures trading and utilizing the price discovery function of futures prices can better facilitate the scheduling of production, procurement, and imports. For example, recycling companies can lock in future sales prices in the futures market to mitigate profit fluctuations caused by price declines. Actively exploring basis trading based on futures prices can make trade pricing more transparent and efficient. Simultaneously, standardized futures warehouse receipts can also serve as high-quality collateral, helping companies broaden their financing channels.
All parties involved in the futures market need to make continuous efforts to create a more friendly and efficient risk management environment for enterprises. This includes ensuring that contract design is closely aligned with industry needs, building a multi-tiered support system, and strengthening market supervision and risk control.
The futures market will provide enterprises with an effective "stabilizer," helping them cope with fluctuations in platinum and palladium prices, ensure the continuity of production and operations, and enhance the resilience and security of the entire industrial chain.
As the domestic platinum and palladium futures market matures, its price discovery function will become increasingly prominent. The industry can actively explore using futures prices as a pricing benchmark for spot trade, forming a more transparent and fair domestic market price system and gradually enhancing China's voice in global platinum and palladium pricing. Especially after 2030, China will have over 3,000 tons of recyclable platinum and palladium reserves. These are our mines; having resources means having a voice.
CPMIC not only fully assisted and supported the Guangzhou Futures Exchange in its preparatory work, including research, factory and warehouse sampling, delivery brand sampling, and testing, before the listing of platinum and palladium futures, but will also continue to play a key "bridge" and "catalyst" role in the integration of industry and finance after the listing.
Through the platform, CPMIC will conduct systematic training and knowledge dissemination. In conjunction with the Exchange, CPMIC will carry out a series of specialized training programs ranging from basic knowledge to advanced hedging strategies, and provide customized content for companies in different positions in the industry chain.
By regularly holding industry summits, seminars, and online forums, we create a space for direct dialogue among upstream and downstream enterprises in the industry chain, futures companies, research institutions, and investors, and build a high-quality and efficient communication platform.
Also, CPMIC will promote the development of industry best practice guidelines for palladium futures trading and normative documents for corporate hedging operations, in order to guide enterprises to establish sound internal control systems and risk management systems, prevent excessive speculation, and ensure that futures business serves the main business.
CPMIC will also need to collect and organize opinions and suggestions from physical enterprises on futures contract design, delivery procedures, risk control measures, etc., and promptly provide feedback to the exchanges. This helps the Exchange continuously optimize their rules, making futures instruments more user-friendly and effective.
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