Silver Prices Rebounded to Catch Up, While Downstream Buyers Remained Cautious and Demand Continued to Weaken [SMM Daily Review]

Published: Mar 17, 2026 12:00

Save

Silver prices rebounded to catch up today, while premiums in the spot market still showed a downward trend. In the Shanghai market, during early trading, mainstream quotations from suppliers of national-standard silver ingots were at premiums of 400 yuan/kg against TD, but downstream consumption remained sluggish. With expectations for silver nitrate operating orders declining and rigid demand for raw materials decreasing, actual spot market transaction premiums were lowered to 300-400 yuan/kg. Some downstream clients mentioned that for bulk purchases exceeding 1 mt, transaction premiums could be negotiated with suppliers down to 250-300 yuan/kg. In South China, smelters quoted silver ingots at a premium of 250 yuan/kg against the 2606 contract or a premium of 400 yuan/kg against TD, but actual transactions were scarce. Suppliers still mainly adjusted prices to drive shipments, while downstream players remained cautious and on the sidelines, and spot market trading stayed sluggish.

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

22 hours ago

[SMM Silver Morning Review] Market Sluggish, Slight Premiums Amid Weak Demand; Shanghai Sees Limited Transactions

[SMM Silver Morning Review] Today, SMM silver ingot spot quotes were mainly at parity or slight premiums. The market continued its previous downward trend, with premiums remaining generally stable. In the Shanghai region, a small volume of transactions were concluded at slight premiums, with mainstream quotes at parity or slight premiums, and some transactions also concluded at parity. The overall market consolidated on the weak side, with sluggish trading.

22 hours ago

Apr 13, 2026 11:26

Silver Market Quiet, Traders Hold Firm on Prices Amid Weak Demand

[SMM Silver Morning Review] Spot silver ingot transactions today are mainly at small premiums or parity. Affected by a slight downtrend in precious metals, overall market trading is quiet, and holders show little willingness to sell. Some smelter supply is expected to enter the market in late April. Traders are currently holding firm on prices, with early morning quotes at TD+30-40 yuan/kg. Driven by position rollover and delivery needs, traders are mostly holding, but downstream demand remains weak with low purchasing appetite, favoring negotiated transactions.

Apr 13, 2026 11:26

Apr 7, 2026 09:39

Silver – Fragile Recovery

Since the outbreak of the US-Iran war on February 28, 2026, financial and commodity markets have experienced a severe correction and roller-coaster ride.

Apr 7, 2026 09:39