SHFE silver futures opened the week with strong upward momentum on Monday, April 20, 2026, as the most active contracts posted sharp gains in early trading. Exchange quotation data showed the benchmark ag2606 contract opening at 20,300 yuan/kg, reaching a session high of 20,559 yuan/kg, and last quoted at 20,323 yuan/kg, up 733 yuan from the previous settlement of 19,590 yuan/kg.
This placed the lead contract up approximately 3.74% on the day, signaling strong buying interest at the start of the trading week. The contract also dominated activity, recording 516,371 lots in volume and 258,691 lots in open interest, making it the central focus of SHFE silver trading.
ag2606 leads strong participation across the curve
Price strength extended across multiple silver contracts. The ag2608 contract was quoted at 20,309 yuan/kg, while ag2605 traded at 20,289 yuan/kg and ag2609 at 20,325 yuan/kg. Most active contracts remained clustered above the 20,300 yuan/kg level, indicating broad-based market support.
The trading range highlighted strong upward movement. ag2606 moved between 20,111 and 20,559 yuan/kg, ag2605 ranged from 20,109 to 20,537 yuan/kg, and ag2608 traded between 20,111 and 20,542 yuan/kg. Even contracts further along the curve held above prior settlement levels, reinforcing the bullish tone.
High turnover and fresh positioning
Total SHFE silver futures volume reached 808,304 lots, with overall open interest at 506,748 lots. Reported turnover stood at approximately 24,674,604.91 in RMB 10,000 units, implying a total trading value of about 246.7 billion yuan, reflecting strong liquidity in the session.
Among individual contracts, ag2608 recorded 194,887 lots in volume, while ag2605 saw 19,055 lots. Open interest in ag2606 increased by 2,780 lots, suggesting fresh positions entering the market rather than short covering. ag2608 added 749 lots, while ag2605 showed a marginal decline of 11 lots.
Risk parameters for the day indicated a 22% general margin requirement for both long and short positions, with 21% for hedging trades. Daily price limits were set at ±20%, leaving the session’s gains well within exchange thresholds.
Contract details show that ag2606 is set to expire on June 15, 2026, while ag2605 expires on May 15, 2026. The concentration of liquidity in ag2606 reflects its position as the most actively traded near-term contract.
With prices across the curve holding firm above 20,300 yuan/kg and turnover surging, SHFE silver futures began the week with clear upward momentum. For broader global pricing context, traders continue to monitor benchmarks from the London Bullion Market Association, which plays a key role in international silver valuation.
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