According to SMM, cash spot prices for national standard silver ingots in the Shanghai region today were quoted at a discount of 4 yuan/kg to parity, while premiums and discounts for large silver ingots were quoted at 0-2 yuan/kg. During the day, the spot-futures price spread for the SHFE silver 2504 contract narrowed to around 0 yuan/kg. Some suppliers narrowed their discounts against the SHFE silver 2504 contract to 2-4 yuan/kg. Silver prices fluctuated at high levels, downstream purchasing enthusiasm was weak, and some suppliers slightly widened their discounts compared to yesterday's quotes to facilitate transactions. Market consumption remained sluggish.
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