Silver Prices Hit New Highs Again; Spot Market Sentiment Remains Cautious with Sparse Transactions [SMM Daily Review]

According to SMM, the cash spot prices for national standard silver ingots in Shanghai today were quoted at a discount of 2 yuan/kg to a premium of 1 yuan/kg, while premiums and discounts for large silver ingots were quoted at 0-3 yuan/kg, with transactions at premiums being relatively difficult. Additionally, there were "flat" quotes at parity against the SHFE silver 2504 contract or at a discount of 15-20 yuan/kg against the SHFE silver 2506 contract, as well as quotes from suppliers intending to transfer to delivery warehouses. Overnight, New York silver prices hit a new high, and domestic silver prices strengthened in tandem. Buyers' willingness to price on a point basis declined, and market transactions dropped significantly compared to yesterday.》View SMM Precious Metals Spot Prices