Silver prices fluctuate at highs, downstream rigid demand adopts cautious procurement and wait-and-see attitude [SMM Daily Review]

Today, silver prices stabilized after fluctuating. According to SMM, in the Shanghai region, the premiums and discounts for TD warrants of national standard silver ingots with spot cargo and cash payment were quoted at 3-5 yuan/kg or at a discount of 25 yuan/kg against the SHFE silver 2508 contract. For silver ingots from major suppliers, the premium against TD was 6-8 yuan/kg. In June, consumption in the end-use market for downstream solar cells weakened, with downstream enterprises such as those producing silver nitrate making few purchases. However, the spot-futures price spread between the SHFE silver 2506 contract and TD widened during the day, increasing the willingness of traders to purchase and deliver silver, leading to slightly more active trading in some periods.

》View SMM's spot quotes for precious metals