Silver Prices Maintained a Fluctuating Trend, While Spot Market Premiums Remained Stable [SMM Daily Review]

Published: Mar 6, 2026 12:02

Save

Silver prices continued to fluctuate within a range. Today, the TD–the most-traded SHFE silver contract spot-futures price spread changed relatively little from yesterday, and spot premiums remained stable. In Shanghai, mainstream quotations from suppliers of national-standard silver ingots were quoted at premiums of +900 yuan/kg against TD. Some major-producer brands or traders with low inventory were quoted at premiums of +900~+1,000 yuan/kg against TD and were reluctant to sell while staying on the sidelines. It was learned that there were still a small number of suppliers in the market who, due to costs and other reasons, were quoted at premiums of +800-900 yuan/kg against TD. Downstream buyers actively negotiated prices and bought the dip. Premiums still differed significantly between mt-level deals and small-lot orders, and spot market trading gradually became more active.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

South32 Raises Hermosa Taylor Capex by Over 50%, Delays Production to 2028 H1

On April 30th, South32 raised the development cost estimate for the Taylor deposit at its Hermosa zinc-silver project in Arizona, US, and delayed the timeline. First-stage capital expenditure has increased by more than 50%, from $2.2 billion in the 2024 FS to $3.3 billion. First production has been delayed by one year to H2 FY2028, full production has also been pushed back to FY2031. Cost increase was mainly due to contractor underperformance, slower-than-expected construction productivity, scope changes, inflation, US tariffs and higher input costs. Progress on a key ventilation shaft is the main bottleneck now. But the company also noted that ore reserves at Taylor increased by 52%, mineral resources rose by 10%, extending the expected mine life from 28 years to around 33 years.

2 hours ago

Apr 29, 2026 21:32

Silver Point Premiums in Silver Nitrate Held Steady, Some Enterprises Maintained Slight Discounts

[SMM Precious Metals Market News] The silver point premiums in silver nitrate prices remained stable. Although the price spread in silver ingot premiums widened, "invoiced transactions" remained the mainstream trading model in the market. Influenced by factors such as raw material quality and brand requirements, the silver point premiums of some silver nitrate enterprises stayed within the range of -10 yuan/kg to 0 yuan/kg, with no signs of widening discounts.

Apr 29, 2026 21:32

Apr 29, 2026 21:29

"A Silver Nitrate Enterprise: Orders Drop in April, Processing Fees for Supplied Materials Rise"

[SMM Silver Market News] A silver nitrate enterprise revealed that its orders in April declined significantly compared to February and March, with processing trade with supplied materials being the main order type. Notably, compared to direct sales of finished silver nitrate products, the processing fee charged for silver nitrate under processing trade with supplied materials was slightly raised.

Apr 29, 2026 21:29