China Silver Price Today | Shanghai Premium
Track China silver prices from Shanghai Gold Exchange vs Western COMEX/LBMA spot prices in real-time
Price Comparison
Shanghai vs Western silver spot prices ($/oz)
About the Shanghai Silver Premium
The Shanghai silver premium tracks the price differential between silver traded on the Shanghai Gold Exchange (SGE) and international Western markets like COMEX and LBMA. When Chinese buyers pay more than global spot prices, it typically reflects strong domestic demand, limited physical supply, or currency factors. Traders monitor this spread as an indicator of regional market conditions and potential arbitrage opportunities.
Why Silver Prices Differ in China
Silver prices in China often diverge from Western markets due to several factors: import quotas and restrictions limiting supply, strong local jewelry and industrial demand, VAT and transaction costs, and the physical delivery requirements on SGE versus the predominantly paper trading on COMEX. The USD/CNY exchange rate also plays a significant role.
SGE vs SHFE: Understanding Chinese Exchanges
The Shanghai Gold Exchange (SGE) is China's primary spot market for physical precious metals, while the Shanghai Futures Exchange (SHFE) handles futures contracts. SGE spot prices reflect immediate physical demand and are key for understanding real Chinese buying interest. SHFE futures provide insight into expected future prices and speculative positioning.
Using the Premium as a Market Indicator
A rising Shanghai premium often signals strong physical buying in China—the world's largest gold consumer and major silver importer. Conversely, a declining or negative premium (discount) may indicate weakening Chinese demand. Many global investors and analysts watch the Shanghai premium as a leading indicator of precious metals market direction.