According to SMM, the cash spot prices for national standard silver ingots in Shanghai today were quoted at a discount of 4 yuan/kg to 1 yuan/kg, while the premiums and discounts for large-scale silver ingots were quoted at a range of a discount of 2 yuan/kg to parity. Some suppliers offered spot prices against the SHFE silver 2506 contract at a discount of 15-20 yuan/kg. After the release of overnight US inflation data, silver prices strengthened, but downstream purchasing enthusiasm in the domestic spot market was extremely low, with some enterprises stating "no stockpiling unless necessary." Suppliers offering large-scale TD silver at parity showed clear delivery intentions, and market transactions were sluggish.
![[SMM 거시 분석] 잭슨홀, 매파적 연준 신호로 9월 금리 인상 기대감 고조](https://imgqn.smm.cn/usercenter/VCNvX20251217171735.jpeg)
