Silver Warehouse & Delivery Reports

Track daily COMEX/NYMEX delivery intentions and warehouse stocks for Silver, with analysis of physical vs paper market tension.

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Latest report October 13, 2026

Silver Warehouse & Delivery — October 13, 2026

Silver Physical Market Brief — October 13, 2026

Executive summary

Physical delivery activity on COMEX rebounded on October 13, 2026, with 120 delivery notices issued and stopped for the October 2026 5,000 oz contract at a settlement price of $59.161/oz. This follows two subdued sessions on October 9 (1 notice) and October 12 (4 notices), pushing cumulative month-to-date (MTD) deliveries to 3,250 contracts (16.25 million troy ounces). Concurrently, CFTC positioning reveals managed money holds a net long posture of 7,528 contracts, balanced against producer/merchant net hedging of -16,253 contracts.

Delivery intentions (today + MTD context)

Physical delivery flows for COMEX Silver futures (SI) saw an uptick after a brief pause over the preceding sessions:

  • Daily notices (October 13, 2026): 120 contracts issued and stopped, corresponding to 600,000 troy ounces of physical silver, scheduled for delivery on October 15, 2026.
  • Contract & Settlement: October 2026 COMEX 5000 Silver Futures settled at $59.161/oz, softening from $60.141 on October 12 and $60.670 on October 9.
  • MTD context: Cumulative deliveries reached 3,250 contracts.
  • Recent delivery trend:
    • Oct 13: 120 issued / stopped (MTD: 3,250)
    • Oct 12: 4 issued / stopped (MTD: 3,130)
    • Oct 09: 1 issued / stopped (MTD: 3,126)
    • Oct 08: 358 issued / stopped (MTD: 3,125)
    • Oct 07: 330 issued / stopped (MTD: 2,767)
    • Oct 06: 114 issued / stopped (MTD: 2,437)

Delivery notices peaked earlier in the delivery period (with 358 contracts on Oct 8 and 330 contracts on Oct 7) before subsiding sharply. Today’s 120 notices confirm physical demand remains active as the contract progresses through its spot delivery month.

Warehouse stocks

CME does not publish COMEX warehouse stocks data in this reporting feed; inventory figures for eligible and registered metal are currently unavailable.

COT cross-check

The latest CFTC Commitments of Traders data (as of October 9, 2026) provides context on positioning relative to physical demand:

  • Total Open Interest: 105,130 contracts
  • Managed Money: Long 16,457 vs. Short 8,929 (Net Long: +7,528 contracts)
  • Producer/Merchant: Long 4,411 vs. Short 20,664 (Net Short: -16,253 contracts)

Divergence assessment: Speculative positioning maintains a modest net long exposure (+7,528 contracts, or ~7.2% of open interest). The ongoing intake of physical deliveries (3,250 contracts MTD) indicates that delivery stoppers have maintained firm physical absorption even as settlement prices dipped below the $60.00/oz threshold from recent highs above $61.16 on October 6.

Risks and watchpoints

  • Delivery deceleration: If daily issuance patterns continue to moderate below 100 contracts per day, spot-month physical absorption may have concluded its primary wave, shifting market focus back to paper positioning in active forward contracts.
  • Price action around $60.00/oz: Settlement prices have declined from $61.168 on October 6 to $59.161 on October 13; monitor whether price stabilization prompts additional physical demand or triggers managed money liquidation.
  • Commercial short cover vs. hedging: Monitor whether commercial short exposure (-16,253 contracts) contracts as October delivery obligations are fully matched and transferred.

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