Silver Prices Retreat from Highs, Spot-Futures Price Spread Turns Positive as Suppliers Slightly Increase Premiums and Discounts [SMM Daily Review]

According to SMM, today in the Shanghai area, spot national standard silver ingots were quoted at a discount of 2 yuan/kg to parity against the TD price or at a discount of 22 yuan/kg against the SHFE silver 2506 contract and a discount of 2-0 yuan/kg against the SHFE silver 2504 contract. For large manufacturers' silver ingots, the TD premiums and discounts were quoted at 0-1 yuan/kg. The spot-futures price spread structure turned into a contango structure during the day. Some traders slightly raised their premiums and discounts quotes, but actual transactions were poor. Downstream buyers maintained just-in-time procurement, and market trades were sluggish.