Prices
Updated: June 9, 2026| Exchange / Source | Price | Unit | Date |
|---|---|---|---|
| LBMA | $68.600 | USD/oz | June 9, 2026 |
| SHFE | ¥16,369 | RMB/kg | June 9, 2026 |
Indicative reference snapshot. Official prices at shfe.com.cn · lbma.org.uk · cmegroup.com.
About Silver
Editorial overviewWhat is silver?
Silver is a precious and industrial metal with very high electrical and thermal conductivity, reflectivity, ductility, and malleability. It is mined mostly as a byproduct of lead-zinc, copper, and gold operations rather than as a primary metal. USGS Mineral Commodity Summaries 2026
How silver is priced
Silver trades on multiple officially regulated exchanges. Each publishes its own daily settlement, fixing or auction reference price for its specific contract — there is no single “world price”. The complete list of active regulated venues for silver:
- London Bullion Market Association — LBMA Gold/Silver Prices (UK) — LBMA Silver Price, USD, Auction reference price
- COMEX (CME Group) (USA) — Silver (SI), USD, Physical; E-mini Silver (SIL), USD, Physical
- Shanghai Futures Exchange (China) — Silver (AG), CNY, Physical
- Shanghai Gold Exchange (China) — Ag99.99 (1 kg silver) (Ag99.99), CNY, Physical
- Osaka Exchange (TOCOM division) (Japan) — Silver, JPY, Physical
- Multi Commodity Exchange of India (India) — Silver (30 kg) (SILVER), INR, Physical; Silver Mini / Micro (SILVERM/SILVERMIC), INR, Physical
- Dubai Gold & Commodities Exchange (UAE) — Silver Futures (DS), USD, Cash
- Borsa İstanbul — Precious Metals & Diamond Market (Türkiye) — Silver (Spot), TRY/USD/EUR, Physical
- Moscow Exchange — Precious Metals Market (Russia) — Silver Spot (SLVRUB_TOM), RUB, Physical; Silver Deliverable Futures (SLV), RUB, Physical
- St. Petersburg International Mercantile Exchange (Russia) — Silver Spot, RUB, Physical
Principle: One True Source for All. Every officially regulated exchange with an active contract is listed, regardless of geography or sanctions. Cash-settled contracts list both the listing exchange (where the contract clears) and the underlying benchmark index used for final settlement. Fastmarkets, S&P Global Platts and Argus are regulated benchmark administrators under UK/EU BMR, not exchanges. Source: TSM exchanges registry (maintained from public regulatory and exchange filings).
Where silver comes from
According to USGS Mineral Commodity Summaries 2026, the largest silver-producing countries in 2025e were Mexico (6,300 metric tons), Peru (3,600), China (3,400), and Poland (1,300), with Russia (1,200) and the United States (1,100) also among the top producers. USGS Mineral Commodity Summaries 2026 lists world silver mine production at 26,000 metric tons and world reserves at 610,000 metric tons. Full breakdown in the production and reserves sections.
Who produces silver
Silver is produced by a mix of major base- and precious-metal miners and state-linked operators, including Grupo México (Mexico), Fresnillo (Mexico), KGHM (Poland), Glencore (multiple countries), and BHP (Australia). USGS Mineral Commodity Summaries 2026 identifies silver as primarily a byproduct from lead-zinc, copper, and gold mines, which is why production is concentrated in diversified mining companies. Full list of producers below.
What silver is used for
The USGS Mineral Commodity Summaries 2026 says U.S. 2025 silver use was led by electrical and electronics at 25%, other industrial uses and photography at 19%, net physical investment bars at 18%, photovoltaics at 15%, coins and medals at 14%, jewelry and silverware at 6%, and brazing and solder at 3%. The same USGS report also notes that industrial use remained the largest end-use category globally, with demand supported by automotive, consumer electronics, and power-grid applications.
Key facts about silver supply
- USGS Mineral Commodity Summaries 2026: world silver mine production was 26,000 metric tons in 2025e versus reserves of 610,000 metric tons, or about 23 years of supply at the 2025e production rate. USGS Mineral Commodity Summaries 2026
- USGS Mineral Commodity Summaries 2026: Mexico led 2025e silver mine production with 6,300 metric tons, followed by Peru at 3,600 and China at 3,400. USGS Mineral Commodity Summaries 2026
- USGS Mineral Commodity Summaries 2026: U.S. net import reliance for silver was 77% of apparent consumption in 2025. USGS Mineral Commodity Summaries 2026
- USGS Mineral Commodity Summaries 2026: about 1,000 metric tons of silver were recovered from new and old scrap in 2025, equal to about 11% of apparent consumption. USGS Mineral Commodity Summaries 2026
- USGS Mineral Commodity Summaries 2026: silver was primarily obtained as a byproduct from lead-zinc, copper, and gold mines, and polymetallic ore deposits account for more than two-thirds of U.S. and world resources. USGS Mineral Commodity Summaries 2026
Sources: USGS Mineral Commodity Summaries 2026 — Silver, The Silver Institute
Mine Production by Country
Source: USGS MCS 2026| Country | 2024 | 2025e | Reserves |
|---|---|---|---|
| United States | 1,050 | e1,100 | 23,000 |
| Argentina | 774 | e800 | 6,500 |
| Australia | 1,050 | e1,000 | 91,000 |
| Bolivia | 1,490 | e1,500 | 22,000 |
| Canada | e366 | e400 | 4,900 |
| Chile | e1,200 | e1,400 | 33,000 |
| China | 3,430 | e3,400 | 67,000 |
| India | 700 | e800 | 8,000 |
| Kazakhstan | e850 | e630 | NA |
| Mexico | 5,780 | e6,300 | 37,000 |
| Peru | 3,510 | e3,600 | 110,000 |
| Poland | 1,320 | e1,300 | 59,000 |
| Russia | 1,280 | e1,200 | 92,000 |
| Sweden | 432 | e400 | NA |
| Other countries | 2,110 | e2,100 | 57,000 |
| World total (rounded) | 25,300 | 26,000 | 610,000 |
Unit: metric tons. "e" = estimated, "W" = withheld, "NA" = not available. Source: USGS Mineral Commodity Summaries 2026
Reserves by Country (Top 10)
Source: USGS MCS 2026| Country | Reserves (metric tons) |
|---|---|
| Peru | 110,000 |
| Russia | 92,000 |
| Australia | 91,000 |
| China | 67,000 |
| Poland | 59,000 |
| Other countries | 57,000 |
| Mexico | 37,000 |
| Chile | 33,000 |
| United States | 23,000 |
| Bolivia | 22,000 |
| World Total | 610,000 |
Major Producers (20)
Ranked by latest disclosed silver productionCompanies ranked by most recently disclosed annual silver production (Ag, million troy ounces). Each card links to the primary source (annual report, production report, or exchange filing). "Not disclosed" means the company does not publish metal-specific tonnage — common for private Chinese/state-owned groups and pre-production projects.
Canada
AG
8.40
Moz Ag
calendar 2024
Canada
FSM
3.72
Moz Ag
FY2024
Kazakhstan
CORE
Undisclosed Output
Not disclosed
FY2024
Silver sales reported as 76 Koz shipped / 73 Koz payable (FY2024) but no production figure disclosed in primary sources (annual report, prelim results, production releases). Silver is byproduct at Varvara (gold/copper primary); Kyzyl is refractory gold (minima…
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Frequently Asked Questions
Auto-generated from primary-source dataWhat is the current price of silver?
As of June 9, 2026, Silver traded at $68.600 USD/oz on LBMA, with parallel quotes on SHFE. Prices update multiple times per business day on TSM Hub from exchange and benchmark feeds.
Which countries produce the most silver?
The largest silver producing countries are Mexico (5,780 metric tons), Peru (3,510 metric tons), China (3,430 metric tons). Source: USGS Mineral Commodity Summaries 2026.
Which countries hold the largest silver reserves?
The countries with the largest reported silver reserves are Peru (110,000 metric tons), Russia (92,000 metric tons), Australia (91,000 metric tons). Source: USGS Mineral Commodity Summaries 2026.
Who are the largest global producers of silver?
Among 780+ producers tracked on TSM Hub, the largest disclosed silver producers include Industrias Peñoles (Mexico), Fresnillo (Mexico), KGHM Polska Miedź (Poland). Some operating silver producers do not publish metal-specific tonnage — such as Solidcore Resources (formerly Polymetal International) (Kazakhstan) — and are listed with an “Undisclosed Output” badge instead of a rank, in line with our principle of never inventing numbers absent from primary sources. Full ranking with primary-source links is available in the producers section.
Where can I find official silver price data?
Official silver prices are published by LBMA, SHFE. TSM Hub aggregates these feeds under licensed market-data redistributor agreements and updates them twice daily.
What is the primary source for silver production and reserves data?
Country-level silver production and reserves figures on TSM Hub are sourced directly from the USGS Mineral Commodity Summaries 2026, the U.S. Geological Survey's authoritative annual reference. Company-level production figures come from each producer's official annual report, production report, or regulated exchange filing.