On December 15, 2025, domestic futures markets showed mixed movements among major contracts. Platinum surged by 7%, while palladium gained over 4%. Polysilicon, European container shipping, and coking coal rose more than 3%, with caustic soda and alumina climbing nearly 3%. On the downside, apples dropped over 2%, while international copper, Shanghai aluminum, Shanghai copper, and rapeseed oil declined more than 1%.

**Futures Firm Insights:** 1. **Yide Futures**: Speculative funds flowed into platinum and palladium for two consecutive days, with platinum holdings increasing for five straight sessions. CME data from December 12 showed NYMEX platinum open interest at 93,355 contracts (+1,464) and palladium at 21,199 contracts (+264). The leading North American gold mining index retreated after hitting a new high. Technically, platinum and palladium show early signs of divergence at elevated levels—caution is advised short-term, with focus on potential pullback opportunities.

2. **Guoxin Futures**: Platinum group metals remain driven by macro sentiment and sector dynamics. While mixed Fed policy signals persist, the broader easing expectation continues to support precious metals. Geopolitical risks and spillover demand from gold/silver’s strength have fueled platinum’s catch-up rally. Palladium, however, faces headwinds from weak auto sector demand, leading to milder performance. Near-term divergence may persist, with Guangzhou Futures Exchange’s platinum contracts likely outperforming.

3. **Nanhua Futures**: The Fed cut rates by 25bps to 3.5–3.75% as expected and announced plans to purchase short-term Treasuries (RMP) starting December 12 to maintain reserve levels. Initial monthly purchases will hit $40 billion, staying elevated in subsequent months. Post-tariff platinum/palladium spot spreads hit yearly lows this Friday, suggesting opportunities for long-overseas/short-domestic strategies.

4. **Ruida Futures**: Platinum’s medium-to-long-term outlook stays bullish, supported by Fed easing expectations, sustained structural supply deficits, and hydrogen economy demand growth.

*(Market-sourced data; not investment advice.)*