Silver prices continue to hold up well, with moderate trading 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 area, the TD premium for spot national standard silver ingot warrants with cash payment 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 ingots from large factories had a TD premium of 4-5 yuan/kg. Downstream enterprises maintained just-in-time procurement, and market transactions were moderate.

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