According to SMM, the cash spot prices for national standard silver ingots in Shanghai today were quoted at a discount of 1-0 yuan/kg to parity, while in Shenzhen, national standard silver was quoted at a premium of 3 yuan/kg. The premiums and discounts for large-scale silver ingots remained at 0-1 yuan/kg. As the month-end approaches, some traders temporarily closed accounts after depleting their inventory, leading to reduced market trading volumes. Discounts in the spot market for cargoes with invoices dated this month narrowed, silver prices continued to fluctuate at high levels, and downstream enterprises mainly focused on rigid demand while maintaining a wait-and-see approach.
