Silver Prices Consolidate amid Volatility, Downstream Players Remain Cautious with Light Trading Volume [SMM Daily Review]

According to SMM, in the morning session today, the premiums and discounts for TD warrants of national standard silver bars with spot payment and spot delivery in Shanghai were quoted at 3-4 yuan/kg. Some suppliers with limited inventory were reluctant to sell and were waiting to see how the market developed, offering a premium of 5 yuan/kg against TD. In Shanghai, spot silver bars from large smelters were quoted at a premium of 5-6 yuan/kg against TD or at a discount of 5 yuan/kg against the SHFE silver 2506 contract. However, actual transactions were relatively sluggish, with some suppliers lowering their premiums and closing deals after negotiations. In South China, smelters offered cargoes self-picked up from production site at a discount of 8 yuan/kg against the SHFE silver 2506 contract. Downstream buyers were cautious and made just-in-time procurement in small quantities, resulting in generally sluggish market transactions.

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