Silver Prices Consolidate at High Levels as Buyers Purchase on Dips to Meet Rigid Demand [SMM Daily Review]

According to SMM, in the Shanghai market today, cash spot national standard silver ingots were quoted at discounts of 3-1 yuan/kg against TD or at discounts of 20 yuan/kg against the SHFE silver 2506 contract and 2 yuan/kg against the SHFE silver 2504 contract. Overnight silver prices briefly declined, prompting buyers to buy the dip, but market transactions turned sluggish after silver prices rose during the morning session. Premiums and discounts for large silver ingots remained near parity, with Yuguang and Wanyang brand silver in Shanghai quoted at premiums of 2-3 yuan/mt against TD, though transactions were limited. Silver prices fluctuated at high levels, and downstream buyers made purchases on dips based on rigid demand. Some suppliers suspended quotations after March deliveries, leading to reduced market circulation of goods.

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