Silver Prices Consolidate and Strengthen Slightly, Market Circulation Increases with Improved Transactions [SMM Daily Review]

Inflation data showed mixed performance, and expectations for the magnitude of the US Fed's interest rate cut fluctuated, with silver prices continuing to fluctuate at highs. During the day, the spot-futures price spread between the SHFE silver 2510 contract and TD silver remained at approximately 30 yuan/kg, and suppliers were shipping goods normally in line with market conditions. According to SMM, in the Shanghai area, spot transactions for national standard silver ingots with cash payment were concluded at a premium of 2-4 yuan/kg against TD silver, while large-scale smelters offered silver ingots at a premium of 5 yuan/kg against TD silver or at a discount of 20-22 yuan/kg against the SHFE silver 2510 contract. In Jiangxi, smelters offered national standard silver ingots at parity against TD silver for factory delivery, while in Inner Mongolia, smelters offered national standard silver ingots at a discount of 11 yuan/kg against TD silver for factory delivery. As the availability of goods in the market increased, downstream buyers with immediate needs purchased at a premium during price dips, leading to a slight improvement in spot market transactions.