Domestic silver prices continue to face downward pressure and consolidate, with overall market trading remaining sluggish as month-end approaches [SMM Daily Review]

Silver prices experienced a slight correction overnight, and today, domestic silver prices continued to face pressure, oscillating around the 8,300 yuan/mt level. According to SMM, the premiums and discounts for TD warrants of national standard silver ingots quoted on a cash-and-spot basis in the Shanghai region remained at 3-5 yuan/kg. Some suppliers of national standard silver ingots offered discounts of 8 yuan/kg against the SHFE silver 2506 contract, while large-factory silver ingots were quoted at discounts of 3-5 yuan/kg against the same contract. In the morning session, as silver prices corrected, downstream buyers bought the dip, leading to a slight improvement in market transactions compared to yesterday. However, at month-end, both supply and demand in the silver spot market declined, with overall market transactions remaining sluggish.

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