Silver prices experience slight correction, with the spot market leaning towards slightly contango transactions [SMM Daily Review]

According to SMM, TD quotes for national standard silver ingot warrants in Shanghai, which are settled in cash and delivered on a spot basis, have shifted to a discount range of -2 to 0 yuan/kg or a discount of 8 to 15 yuan/kg against the SHFE silver 2508 contract. Silver ingots from large smelters are quoted at a premium of 0 to 2 yuan/kg against TD. A smelter in Jiangxi offers cargoes self-picked up from production site at a discount of 1 yuan/kg against TD. Downstream buyers are purchasing only small quantities to meet immediate needs, while some traders are reluctant to sell, anticipating a premium for delivery. Today's spot trades show no significant change compared to yesterday. National standard silver ingots in the Shanghai market tend to be traded at a slight discount, and spot market trades are sluggish.

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