Silver Prices Continued to Fluctuate at High Levels, Some Suppliers Held Back on Sales and Adopted a Wait-and-See Approach [SMM Daily Review]

According to SMM, the TD premiums/discounts for spot standard silver ingot warrants in Shanghai today were quoted at -2 yuan/kg to 0 yuan/kg, while the TD premiums/discounts for large factory silver ingots were quoted near parity or at a discount of 21-23 yuan/mt against the 2506 contract. The price spread between TD and SHFE silver 2506 contract widened today, and some suppliers held back from selling due to being stuck in positions, temporarily refraining from expanding the discount quotes against the 2506 contract. Approaching month-end, some companies closed their accounts after exhausting their invoices for this month, leading to a slight decline in market circulation of goods, and spot trades remained sluggish.