Pre-Holiday Silver Market Sluggish, Premiums Held Steady [SMM Daily Review]

Published: Apr 30, 2026 10:17

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[SMM Daily Review: Pre-holiday Silver Market Sluggish, Premiums Held Steady] SMM reported on April 30 that the pre-holiday atmosphere was strong, with weakened offers and inquiries. Premiums held steady, and trading was sluggish.

Today, SMM quoted premiums of TD-30 to 0 yuan/kg for the SGE Ag(T+D), with an average of -15 yuan/kg. Mainstream premiums remained unchanged from yesterday. Affected by some traders rectifying their invoicing practices, participation in offers from the Shanghai area declined. The overall market was increasingly in a holiday mood, with offers and inquiries weakening.

Shanghai area early session, suppliers of national-standard silver ingots quoted at premiums of -20 yuan/kg to parity against TD. Major smelter silver ingots were largely unquoted this week, with downstream consumption remaining sluggish. In the Shenzhen area, a few non-delivery brands maintained relatively large discounts. Overall, market trading was extremely sluggish today.

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.

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