Silver Ingot Market Rebounded Over 4%, Spot Cargo Struggled to Catch Up with Premiums Narrowing [SMM Daily Review]

Published: Apr 15, 2026 11:14

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[SMM Daily Review: Silver Ingot Market Rebounded Over 4%, Spot Struggled to Catch Up with Premiums Narrowing] SMM reported on April 15 that, boosted by expectations of US-Iran peace talks, silver T+D rose over 4%. However, the spot market struggled to catch up, with transactions mostly at parity, and sluggish trading continued.

Today, SMM silver ingot spot quotes were mainly at parity or slight premiums, with the overall market performing weakly and quotes continuing to decline.

Macro perspective, influenced by the shift toward US-Iran peace talk sentiment, silver T+D rose more than 4% today. Spot side, suppliers still showed willingness to hold prices firm in the early morning, with offers at a premium of 10-30 yuan/kg over TD. However, as shipments increased and demand remained in the doldrums, actual transaction prices continued to decline, with mainstream transactions in the Shenzhen market gradually moving toward parity.

Overall, silver prices briefly ended their weak consolidation and rebounded slightly. However, the spot market lacked momentum to follow the rally, and actual trading remained sluggish. Future trends still depend on the impact of macro events such as the Middle East situation.

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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