According to SMM, cash spot prices for national standard silver ingots in the Shanghai region were quoted at a discount of 2 yuan/kg to parity, while premiums and discounts for large-scale silver ingots were quoted at 0-2 yuan/kg. Some suppliers offered a discount of 8-10 yuan/mt against the SHFE silver 2504 contract. Silver prices fluctuated at high levels, with downstream purchasing and restocking enthusiasm remaining low and limited interest in buying amid the price rise. Market demand continued to be sluggish, making spot premiums relatively difficult to transact.
