Silver prices fluctuate and consolidate, with moderate premium transactions in the spot market [SMM Daily Review]

Silver prices fluctuated and consolidated today. According to SMM, suppliers holding warrants for national standard silver ingots in the Shanghai region offered premiums of 2-5 yuan/kg against TD, with some traders indicating that premiums of 4-5 yuan/kg for warrants of national standard silver ingots could only result in small transactions of less than 1 mt. Large-scale producers' silver ingots were offered at premiums of 5-6 yuan/kg against TD or at discounts of 20-23 yuan/kg against the SHFE silver 2508 contract, with transactions concluded. In the Guangdong region, factory-pickup silver ingots were offered at discounts of 28 yuan/kg against the SHFE silver 2508 contract, while in the Jiangxi region, smelters' factory-pickup silver ingots were offered at premiums of 1-2 yuan/kg against TD. Downstream buyers maintained just-in-time procurement, with silver prices stabilizing at highs. The wait-and-see sentiment in the market remained strong, and overall trading activity was relatively light.

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