(Kitco News) – Abaxx Technologies announced Friday that trading has officially commenced in its Silver Singapore (SSP) futures contract, marking the latest step in the company’s effort to position Singapore as a major global hub for precious metals trading and price discovery.
The new contract is designed to bridge what Abaxx describes as a growing disconnect between traditional global silver benchmarks and the evolving physical requirements of industrial users across Asia.
Abaxx said its new contract is specifically aimed at supporting industries tied to solar energy, advanced electronics, and high-end manufacturing, sectors that continue to drive global silver demand higher. The exchange added that the contract is intended to provide more direct price discovery and hedging tools for commercial participants managing physical silver exposure in Asia.
“The launch of Abaxx Silver Singapore futures marks a meaningful step forward for the global silver market,” said Michael DiRienzo, President and CEO of the Silver Institute. “Asia is increasingly central to silver demand, driven by the extraordinary growth in solar energy and advanced electronics — two sectors where high-purity silver is indispensable.”
The launch comes at a time when the global silver market continues to face tightening supply conditions and elevated volatility. Earlier this year, silver prices surged to record highs above $120 an ounce amid ongoing supply deficits, geopolitical disruptions, and strong industrial consumption. Analysts have increasingly pointed to Asia as the primary driver of long-term silver demand growth, particularly as China expands its solar manufacturing capacity and electronics production.
“Silver is no longer only a precious metals story. It is increasingly tied to the industrial inputs behind solar, electronics, and advanced manufacturing,” said Russell Robertson, Chief Business Development Officer of Abaxx Exchange, said in the company’s initial announcement on Monday. “As those supply chains grow, commercial participants need pricing and risk management tools that connect more directly to the physical silver they source and use. The Abaxx Silver Singapore futures contract is designed to close that gap with a physically deliverable contract built around higher-purity silver and delivery in Singapore.”
Abaxx executives have argued that the traditional North American and London-centric silver market structure is becoming less aligned with the realities of global industrial demand. The company has emphasized that higher-purity “four-nines” silver products are becoming increasingly important for advanced manufacturing applications, particularly in Asia’s technology supply chain.
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