Silver prices hold up well, with moderate downstream just-in-time procurement transactions [SMM Daily Review]

Silver prices continued to hold up well, with the spot-futures price spread between the SHFE silver 2510 contract and TD silver remaining at 30-32 yuan/kg during the day. Some suppliers were still reluctant to sell, choosing to wait and see, and had suspended their quotations. According to SMM, in the Shanghai area, the national standard silver ingot warrants for cash and spot transactions were quoted at a premium of 5 yuan/kg against TD silver or at a discount of 24-25 yuan/kg against the SHFE silver 2510 contract. Silver ingots from large factories were quoted at a premium of 6-8 yuan/kg against TD silver or traded at a discount of 22-23 yuan/kg against the SHFE silver 2510 contract. Just-in-time procurement from downstream buyers was moderate.