Spot Silver at Significant Discount, Consumption Sluggish and Trading Subdued [SMM Daily Review]

Today, SMM's premium/discount quotations against the SGE Ag(T+D) were predominantly at significant discounts. Market consumption continued its dismal trend, with limited shipments of registered brand supplies, and downstream enterprises showed low purchase willingness. Quotation differences for circulating supplies varied significantly across different brands and regions.

During the Shanghai morning session, mainstream quotations from national-standard silver ingot suppliers were quoted at premiums of -20~-40 yuan/kg against the TD contract, or quoted at premiums of -50~-60 yuan/kg against the SHFE silver 2606 contract. In the Shenzhen region, some low-priced supplies were offered at relatively low levels. Today, the floor-supporting capacity of banking institutions weakened somewhat, and the overall market was dominated by transactions at discounts.