Today, silver prices continued the upward trend seen last Friday. The announcement by the US over the weekend to impose new 30% tariffs on goods from the EU and Mexico reignited inflation concerns, leading to a continued surge in risk-averse sentiment among investors. According to SMM, there was a significant variation in the quotes offered by spot silver suppliers during the day. In Shanghai, the TD premiums and discounts for national standard silver ingot warrants traded with immediate cash payment were adjusted downwards to near parity or a discount of 8-10 yuan/kg against the SHFE silver 2508 contract. Major manufacturers quoted a TD premium of 2-3 yuan/kg for silver ingots. Some suppliers remained hesitant to sell due to cost or inventory considerations. Following the strengthening of silver prices, downstream buyers primarily engaged in just-in-time procurement, with low enthusiasm for purchases. Overall, market transactions were relatively sluggish.
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