SHFE silver futures pushed higher across the curve on 13 April 2026, with market activity concentrated in the June 2026 contract (ag2606) as traders leaned into the most liquid part of the strip. The session stood out not only for firmer settlements, but also for rising participation, a mix that pointed to a stronger tone in Shanghai’s silver market heading into mid-April.
The most actively traded contract, ag2606, settled at 18,606 yuan/kg, up 80 yuan from the previous settlement. Volume surged to 682,996 lots, while turnover reached roughly RMB 190.62 billion on the exchange’s reporting basis. Open interest in the same contract rose by 2,751 lots to 237,225 lots, showing that fresh positions were added as prices moved higher rather than the rally being driven only by short covering.
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The nearby ag2604 contract was more volatile as it approached expiry. It opened at 18,122 yuan/kg, traded as high as 18,805 yuan/kg, and settled at 18,558 yuan/kg, a daily gain of 258 yuan. Open interest there dropped by 638 lots to 5,568 lots, reflecting the usual shift away from the front month as delivery nears.
Price action across the broader curve remained firm and tightly grouped. Contracts from ag2605 through ag2612 largely settled between 18,490 yuan/kg and 18,606 yuan/kg, showing that the strength was spread across maturities rather than being limited to one isolated delivery month. The highest settlement on the day came in ag2606 at 18,606 yuan/kg, while the lower end of the curve was represented by ag2702 at 18,490 yuan/kg.
Total SHFE silver futures volume for the day reached 1,010,071 lots, while total open interest climbed to 452,398 lots, up 2,995 lots from the prior session. That increase in aggregate open interest gave the session added weight, suggesting the move had broader participation behind it.
Delayed market data added another bullish layer. In that sheet, ag2606 last traded at 18,880 yuan/kg, above its official settlement level. Other contracts also held late-session strength, with ag2608 at 18,865 yuan/kg, ag2610 at 18,862 yuan/kg, and ag2612 at 18,839 yuan/kg. That pattern suggested buying interest remained intact after the official pricing window.
The contract-parameter file also shows why liquidity had already shifted away from the nearby month. ag2604 is set to expire on 15 April 2026, with first delivery day listed as 16 April 2026. As that deadline approaches, it is typical for traders to rotate into deeper and more flexible contracts, and the data from 13 April showed that transition clearly.
For market participants tracking precious metals in China, the 13 April session was not just a mild upward day. It was a broad-based advance led by ag2606, supported by higher open interest, heavy turnover, and firmer delayed prices. For readers wanting the broader contract framework for silver trading in Shanghai, the official SHFE silver futures contract page provides the exchange’s product specifications and market structure.
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