Silver prices fluctuated and consolidated, with the center of price movement slightly shifting upwards, while spot premiums slightly declined [SMM Daily Review]

Today, domestic silver prices continued to fluctuate at highs. According to SMM, in Shanghai, the spot cash price for TD warrants of national standard silver ingots was quoted at a premium of 3 yuan/kg. Downstream buyers generally engaged in price negotiations, with a small volume of transactions concluded at a premium of 1-3 yuan/kg for TD national standard silver ingots. Some suppliers indicated that silver prices were at a yearly high, making it difficult to sell. Additionally, following the narrowing of the spot-futures price spread, the TD premium decreased, and suppliers might prioritize delivery and suspend spot quotes in the future. At the beginning of the week, many downstream buyers remained on the sidelines, focusing on long-term contract purchases, with only a small volume of rigid demand buying the dip. Overall, the spot market was relatively sluggish.

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