Silver Prices Stopped Falling and Rebounded, Spot Market Activity Remained Low [SMM Daily Review]

Today, SMM's pricing for SGE Ag(T+D) at 10:00 was 18,792 yuan/kg, with premiums quoted at TD -30 to -10 yuan/kg, averaging -20 yuan/kg. Precious metals futures stopped falling and rebounded slightly today, with the pace still following the back-and-forth of US-Iran tensions and US Treasury yield fluctuations. Spot market side, suppliers of national-standard silver ingots posted mainstream quotations at discounts of 30 yuan/kg to 10 yuan/kg against TD. Most suppliers in Shanghai quoted discounts unchanged from yesterday. Some suppliers reported that heavy trading yesterday afternoon left them with less spot inventory, so they held prices firm; some delivery brand silver ingot suppliers also quoted at parity and held back from selling with a wait-and-see attitude, but transactions were difficult. The market reported that after yesterday's recovery in trading, consumption returned to sluggish levels today, with the transaction center skewing toward the lower end of quotations. Non-delivery brands in Shenzhen maintained large discounts deviating from mainstream quotations, while investment demand recovered somewhat as silver prices declined in recent days. Overall, spot market activity was relatively low today.