According to SMM, the cash spot prices for national standard silver ingots in the Shanghai market today were quoted at a discount of 3 yuan/kg to parity, while premiums and discounts for large-scale silver ingots were quoted at 0-1 yuan/kg. During the day, the spot-futures price spread for the SHFE silver 2504 contract did not significantly widen, with suppliers quoting a discount of 2-4 yuan/kg against the SHFE silver 2504 contract. The weakening US dollar index supported silver prices to fluctuate upward, but downstream purchasing enthusiasm was low, leading to reduced market trading volumes.
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