China’s silver futures market is carrying a firm risk signal across the 2026-27 contract curve, with most Shanghai Futures Exchange silver contracts set under elevated margin requirements while one later-dated contract stands apart.
SHFE silver futures data for June 1, 2026 shows 12 listed contracts from ag2606 to ag2705. Across most of the curve, general margins are set at 22%, while hedging margins stand at 21%. That is a sizeable collateral buffer for traders in a market often shaped by interest-rate expectations, yuan movement, industrial demand and broader precious-metals sentiment.
The clear exception is ag2705. That contract carries a lower 19% general margin and an 18% hedging margin, making it the main outlier in the curve. Its daily price-limit range is also narrower at ±17%, compared with ±20% for most other listed silver contracts.
SHFE silver futures margin stays elevated
The Shanghai Futures Exchange lists silver futures under the contract symbol AG, with a contract size of 15 kilograms per lot and pricing in yuan per kilogram, according to the official SHFE silver futures contract specifications.
For market participants, the margin structure is more than a technical setting. A 22% general margin requirement limits leverage and raises the capital needed to hold silver futures exposure. That can make contract selection more important for active traders, especially when fee and price-limit settings also vary across the curve.
Fee levels show another split. The ag2606, ag2607 and ag2612 contracts carry higher transaction fee rates of 0.05‰ for general trades and 0.025‰ for hedging trades. Other listed contracts are lower, at 0.01‰ for general trades and 0.005‰ for hedging trades. That gap may matter most for short-term strategies, calendar spreads and frequent rolling activity.
Settlement prices stay near ÂĄ18,000
Settlement prices across the listed silver futures contracts sit in a tight range, from 18,152 to 18,386. The narrow band suggests the curve was relatively steady on June 1, even though margin, fee and price-limit settings differed between contract months.
The largest premium against the benchmark appears in ag2606, at +9,243, while the deepest discount appears in ag2701, at -4,526. Those differences give traders a starting point for reading the curve, though futures spreads can also reflect liquidity, delivery timing, funding costs and expectations for physical silver demand.
Silver remains sensitive to both macro and industrial forces. It can trade as a precious metal during periods of risk aversion, while also reacting to demand from electronics, solar manufacturing and other industrial uses. That dual role can make silver more volatile than gold when growth expectations and monetary-policy signals move in different directions.
For finance readers, the June 1 SHFE silver futures curve offers a clear message: collateral requirements remain high across most listed contracts, fee differences may influence active trading decisions, and ag2705 deserves separate attention because its margin and price-limit settings break from the broader pattern.
Make Swikblog your go-to source on Google for reliable updates, smart insights, and daily trends.
