Dear Users,
Hello!
Since the beginning of this year, the silver trade market has experienced noticeable fluctuations. According to SMM's research, the window for exporting refined silver to Hong Kong through processing trade has gradually reopened since May, with related demand continuing to grow. SMM now plans to launch a weekly Hong Kong Silver Ingot Spot Premium (based on the LBMA price). Meanwhile, considering that market participants widely use futures prices as an important reference benchmark, we are introducing a daily premium/discount assessment against the SHFE front-month silver contract, in addition to our existing cash premium/discount against the SGE T+D contract. This is aimed at providing a trade reference for the market and helping to reduce transaction costs.
These two premium/discount assessments will be added to the SMM Silver Database and will be accessible via the SMM Data Terminal. The specific price point definitions and update standards are as follows:
Price Point: SMM Hong Kong Silver Ingot Spot Premium (Weekly)
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Specification: Conforming to National Standard GB/T 4135-2016, IC-Ag99.99
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Definition: Trade price in Hong Kong, expressed as a premium/discount against the LBMA spot silver price
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Unit: USD/oz
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Minimum Volume: ≥ 100 kg
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Publication Time: By 18:00 every Thursday (Beijing Time, working days)
Price Point: SMM Silver Spot Premium/Discount (Against SHFE Front-Month Contract)
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Specification: Conforming to National Standard GB/T 4135-2016, IC-Ag99.99
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Definition: The premium/discount against the traded price of the SHFE front-month silver contract during the 9:30-10:15 session of each trading day
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Unit: RMB/kg
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Minimum Volume: ≥ 100 kg
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Publication Time: By 10:30 every morning (Beijing Time, working days)
This series of price data will officially go live on July 9, 2026. If you have any questions, please contact the SMM Precious Metals Team: Zhu Qifan – Silver Analyst Email: zhuqifan@smm.cn
SMM Precious Metals Team
July 2, 2026