Silver futures and options trading volume surged in the first half of the year

According to the latest statistics from the China Futures Association, in the first half of this year, the total national futures market trading volume reached 5.105 billion contracts, with a total trading value of 482.7 trillion yuan, increasing by 25.23% and 42.08% year-on-year respectively. In June, the national futures market trading volume was 939 million contracts, with a trading value of 80.62 trillion yuan, up 27% and 52.72% year-on-year respectively. By the end of June, the national futures market open interest was 57.9591 million contracts, a month-on-month increase of 7.98% and a year-on-year increase of 15.61%.

China's precious metals futures and options saw a "rise and fall" in open interest.

From January to June, domestic precious metals futures and options trading volume reached 290.8 million contracts, up 31.58% year-on-year; precious metals futures and options trading value was 98.316 trillion yuan, a year-on-year increase of 64.26%. By the end of June, the open interest in precious metals futures and options was 1.1404 million contracts, a year-on-year decrease of 32.96%.

Gold and silver futures and options saw mixed results in trading and open interest.

From January to June, domestic gold futures and options trading volume was 58.5 million contracts, down 22.46% year-on-year; trading value reached 46.57 trillion yuan, up 4.8% year-on-year. By the end of June, the open interest in gold futures and options was 370,400 contracts, down 34.32% year-on-year.

From January to June, domestic silver futures and options trading volume was 229.6 million contracts, up 37.81% year-on-year; trading value reached 50.5 trillion yuan, a significant year-on-year rise of 277.73%. By the end of June, the open interest in silver futures and options was 735,300 contracts, down 35.35% year-on-year.

The futures market saw prominent active products. By trading volume, the top three products were: on the Shanghai Futures Exchange, silver futures, petroleum asphalt futures, rebar futures; on the Zhengzhou Commodity Exchange, methanol futures, glass futures, PTA futures; on the Dalian Commodity Exchange, egg futures, coking coal futures, soybean meal futures; on the Guangzhou Futures Exchange, lithium carbonate options, lithium carbonate futures, industrial silicon futures.

By trading value, the top three products were: on the Shanghai Futures Exchange, silver futures, gold futures, tin futures; on the Zhengzhou Commodity Exchange, PTA futures, methanol futures, rapeseed oil futures; on the Dalian Commodity Exchange, coking coal futures, egg futures, palm oil futures; on the Guangzhou Futures Exchange, lithium carbonate futures, polysilicon futures, industrial silicon futures.

The China Financial Futures Exchange saw a futures and options trading volume of 32.6527 million contracts, accounting for 3.48% of the national market; trading value was 29.66 trillion yuan, accounting for 36.79% of the national market. The top three products by trading value were the CSI 1000 Index Futures, CSI 500 Index Futures, and CSI 300 Index Futures. As of June 30, there were a total of 167 listed futures and options products in China.

In the first half of the year, against the backdrop of an increasingly complex and changing external environment, China's futures market continued to expand in scale, with total trading volume growing by 25.23% year-on-year and trading value by 42.08%, and open interest across the market remaining stable. At the end of June, open interest grew 7.98% month-on-month and 15.61% year-on-year, the market's customer structure remained stable, the futures market as a whole operated steadily, demonstrating a positive development trend and strong resilience.

From the perspective of market functionality, in the first half of 2026, the futures market played an active role in serving the real economy and supporting the stability of industrial and supply chains. Amid intensified price fluctuations in bulk commodities, sector rotation across different parts of the futures market was pronounced, with increasing diversification of market participants. The futures market, through its efficient price discovery and risk management mechanisms, has provided effective hedging tools for all types of businesses, powerfully supporting the steady operations of real economy enterprises.