Silver prices continue to hold up well, with moderate trading volume in the spot market [SMM Daily Review]

Published: Jul 22, 2025 12:00

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The overnight US dollar index and US Treasury yields weakened, boosting silver prices to strengthen again. According to SMM, after the spot-futures price spread widened in the morning session, suppliers slightly raised their premiums. Today, in the Shanghai region, the TD premium for national standard silver ingot warrants with cash and spot delivery was quoted at 3-5 yuan/kg, or at a discount of 8-10 yuan/kg against the SHFE silver 2508 contract. The spot silver from large factories had a TD premium of 4-5 yuan/kg. Downstream buyers maintained just-in-time procurement, and market transactions were moderate.

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