Silver Prices Consolidated in a Range, Spot Premiums Continued to Narrow, and Sluggish Trading Persisted [SMM Daily Review]

Today's SMM silver ingot spot transactions were mainly at parity or with slight premiums. Suppliers in the spot market showed normal willingness to sell, but overall consumption remained sluggish. In the early session, suppliers offered at TD+0-20 yuan/kg. Downstream purchase willingness was low, and the price spread between bids and offers was wide, with transaction prices still leaning toward parity. Traders were more inclined to consider registered warrant operations or securing backstop arrangements with banking institutions, and overall spot market transactions were sluggish.