According to SMM, in the Shanghai region today, cash spot national standard silver ingots were quoted at discounts of 3 yuan/kg to 1 yuan/kg against TD or at discounts of 20-25 yuan/kg against the SHFE silver 2506 contract. Premiums and discounts for large silver ingots were near parity. In the Shanghai region, Yuguang and Wanyang brand silver was quoted at premiums of 2-3 yuan/mt against TD, but transactions were limited. Silver prices fluctuated at high levels, and spot market transactions were sluggish. Suppliers temporarily expanded discounts but showed low willingness to negotiate, while buyers made limited purchases for immediate needs.
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