Silver Prices Continue to Consolidate Sideways, Market Trading Remains Sluggish [SMM Daily Review]

Today, silver prices continued to fluctuate at highs. According to SMM, in Shanghai, the premium for TD warrants of national standard silver ingots, for spot cargo with cash payment, was slightly lowered to a quoted price of 3-4 yuan/kg or a discount of 6-8 yuan/kg against the SHFE silver 2506 contract. The premium for silver ingots from major suppliers against TD remained at 6-8 yuan/kg. After the spot-futures price spread between the SHFE silver 2506 contract and TD narrowed during the day, the TD premium slightly declined. The upward trend in silver prices remains unclear, with many market participants adopting a wait-and-see attitude. Downstream buyers made a few purchases based on immediate needs, resulting in generally sluggish market transactions.

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