Live market read
Shanghai silver price
The Shanghai Futures Exchange silver contract, converted to US dollars per troy ounce and compared with London spot. Refreshed automatically every minute; the underlying feed updates every five minutes.
Shanghai (USD/oz)
$60.75
London spot
$53.95
Shanghai premium
+12.6%
USD / CNY
6.6687
SHFE price (as quoted)
¥13,026 / kg
CNY per ounce
¥405 / oz
Exchange timestamp: 2026-10-27 (China time).
Why the premium matters
China is the world's largest industrial consumer of silver. When the Shanghai price trades at a premium to London, metal is being pulled east — a sign of tight physical supply in Asia. A discount means the opposite: local supply is comfortable. Watching this spread over time is one of the cleanest real-time gauges of where physical silver is flowing.
Right now Shanghai pays 12.6% more than London — a strong pull of metal toward China.
How this number is built
- Source: Shanghai Futures Exchange continuous silver contract, via Sina Finance's public quote feed.
- Quoted in yuan per kilogram; converted to troy ounces at 32.1507465686 oz per kg.
- Converted to US dollars at the onshore USD/CNY rate from the same feed.
- Premium = Shanghai USD/oz ÷ London spot − 1, against VaultDrain's live spot quote.
- The feed is cached for five minutes; SHFE trades on Beijing time and closes on Chinese holidays.
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