Shanghai Silver Benchmark (SHAG)
| Shanghai benchmark (SHAG) | Bid | Ask | Change | % Change |
|---|---|---|---|---|
| Price Per Ounce | $82.06 | $84.85 | ▼ $0.42 | -0.49% |
| Price Per Gram | $2.64 | $2.73 | ▼ $0.01 | -0.49% |
| Price Per Kilo | $2638.24 | $2727.94 | ▼ $13.48 | -0.49% |
Morning (AM) session
18,613 CNY/kg
84.85 USD per troy oz
Afternoon (PM) session
18,001 CNY/kg
82.06 USD per troy oz
Premium vs COMEX / global silver spot (ask shown in hero):
AM +15.9%
·
PM +12.1%
Latest SGE trade date: 2026-04-28
· USD/CNY (conversion): 6.8231
SHAG (morning fix) vs COMEX silver
Shanghai benchmark shown as the morning (AM) fix in USD per troy ounce. COMEX line is our daily average silver spot (USD/oz) for the same calendar date. Gaps occur when either series is missing for that day.
Recent trading days (last 30 rows)
Premium uses SHAG in USD/oz vs same-day COMEX daily average. Weekends and holidays may appear with incomplete sessions.
| Trade date | AM ¥/kg | PM ¥/kg | AM $/oz | PM $/oz | COMEX avg $/oz | AM vs COMEX | PM vs COMEX |
|---|---|---|---|---|---|---|---|
| 2026-04-28 | 18,613 | 18,001 | 84.85 | 82.06 | 75.99 | +11.7% | +8.0% |
| 2026-04-27 | 18,705 | 18,820 | 85.27 | 85.79 | 75.60 | +12.8% | +13.5% |
| 2026-04-24 | 18,750 | 18,580 | 85.47 | 84.70 | 75.51 | +13.2% | +12.2% |
| 2026-04-23 | 19,407 | 18,882 | 88.47 | 86.07 | 75.98 | +16.4% | +13.3% |
| 2026-04-22 | 19,373 | 19,518 | 88.31 | 88.97 | 77.92 | +13.3% | +14.2% |
| 2026-04-21 | 19,788 | 19,617 | 90.20 | 89.43 | 78.14 | +15.4% | +14.4% |
| 2026-04-20 | 19,935 | 19,806 | 90.87 | 90.29 | 79.78 | +13.9% | +13.2% |
| 2026-04-17 | 19,386 | 19,551 | 88.20 | 88.95 | 80.22 | +9.9% | +10.9% |
| 2026-04-16 | 19,826 | 19,907 | 90.20 | 90.57 | 79.42 | +13.6% | +14.0% |
| 2026-04-15 | 19,849 | 19,571 | 90.47 | 89.20 | 79.39 | +14.0% | +12.4% |
| 2026-04-14 | 18,816 | 18,907 | 85.87 | 86.28 | 78.05 | +10.0% | +10.5% |
| 2026-04-13 | 18,383 | 18,388 | 83.87 | 83.89 | 74.67 | +12.3% | +12.3% |
| 2026-04-10 | 18,665 | 18,531 | 85.10 | 84.48 | 75.84 | +12.2% | +11.4% |
| 2026-04-09 | 18,057 | 18,220 | 82.32 | 83.07 | 74.69 | +10.2% | +11.2% |
| 2026-04-08 | 18,722 | 18,974 | 85.37 | 86.52 | 75.93 | +12.4% | +13.9% |
| 2026-04-07 | 17,983 | 17,892 | 82.00 | 81.59 | 72.50 | +13.1% | +12.5% |
| 2026-04-03 | 18,037 | 17,803 | 82.25 | 81.18 | 73.00 | +12.7% | +11.2% |
| 2026-04-02 | 18,199 | 17,461 | 82.99 | 79.62 | 72.10 | +15.1% | +10.4% |
| 2026-04-01 | 18,686 | 18,716 | 85.21 | 85.34 | 74.95 | +13.7% | +13.9% |
| 2026-03-31 | 18,335 | 18,062 | 83.61 | 82.36 | 73.33 | +14.0% | +12.3% |
| 2026-03-30 | 17,325 | 17,732 | 79.00 | 80.86 | 70.27 | +12.4% | +15.1% |
| 2026-03-27 | 17,147 | 17,459 | 78.19 | 79.61 | 69.31 | +12.8% | +14.9% |
| 2026-03-26 | 17,765 | 17,338 | 81.01 | 79.06 | 69.14 | +17.2% | +14.3% |
| 2026-03-25 | 18,420 | 18,116 | 83.99 | 82.61 | 72.70 | +15.5% | +13.6% |
| 2026-03-24 | 16,630 | 17,025 | 75.83 | 77.63 | 69.23 | +9.5% | +12.1% |
| 2026-03-23 | 16,718 | 15,541 | 76.23 | 70.87 | 67.17 | +13.5% | +5.5% |
| 2026-03-20 | 18,434 | 17,863 | 84.06 | 81.45 | 71.10 | +18.2% | +14.6% |
| 2026-03-19 | 19,030 | 18,141 | 86.77 | 82.72 | 72.44 | +19.8% | +14.2% |
| 2026-03-18 | 19,946 | 19,930 | 90.95 | 90.88 | 77.91 | +16.7% | +16.6% |
| 2026-03-17 | 20,385 | 20,351 | 92.95 | 92.80 | 80.37 | +15.7% | +15.5% |
What is the Shanghai Silver Benchmark (SHAG)?
The Shanghai Silver Benchmark Price (contract code SHAG) is a daily reference price published by the Shanghai Gold Exchange (SGE). It is determined in formal fixing auctions, similar in spirit to legacy benchmark fixes elsewhere: there is a morning (ĉİç) session and an afternoon (ċç) session, quoted in CNY per kilogram of fine silver.
SHAG is not the same thing as 24-hour electronic COMEX silver quotes. Many investors watch the spread between Shanghai-denominated benchmarks and dollar spot to gauge regional pressure, logistics, and wholesale tightness in the Chinese market.
Why compare SHAG to COMEX spot?
Most English-language silver commentary uses COMEX or LBMA-style spot quotes. Converting SHAG to USD per troy ounce (using USD/CNY) lets you compare like-for-like. When SHAG converted to USD/oz trades above COMEX spot, some participants describe that as a “Shanghai premium”; when it trades below, a “discount.” The spread changes with currency, local supply and demand, and session timing.
