Silver Prices Surge Then Retreat, Spot Market Transactions Improve Slightly [SMM Daily Review]

According to SMM, in the Shanghai region, the quotes for national standard silver ingot warrants with cash and spot cargo were at a premium of 0-3 yuan/kg against TD or at a discount of 5 yuan/kg against the SHFE silver 2506 contract. Silver ingots from large factories were at a premium of 2-5 yuan/kg against TD. In the Shenzhen region, some individual suppliers were selling unilateral speculative silver supplies at a discount of 5-10 yuan/kg against TD, while other suppliers' national standard silver ingots were still following the market trend at a premium of 0-2 yuan/kg against TD. After hitting a high today, domestic silver prices briefly pulled back. Some suppliers noted the enthusiasm of downstream inquiries, and transactions were concluded at lower negotiated prices, with spot cargo transactions slightly improving compared to the previous few trading days.

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