Silver Prices Rebound Upward, Downstream End-Use Consumption Moderate [SMM Daily Review]

Silver prices stopped falling and rebounded today, with the spot-futures price spread for SHFE silver 2510 contract - TD maintaining at 20-25 yuan/kg. Suppliers' premium against TD showed no significant change from yesterday. According to SMM, in the Shanghai area, standard silver ingot warrants for cash against TD were traded at a premium of 2-3 yuan/kg, while some suppliers' standard silver ingots were traded at a premium of 1 yuan/kg against TD. Large producers' silver ingots were traded at a premium of 4-5 yuan/kg on rigid demand, while some suppliers held back large producers' silver ingots at a discount of 20 yuan/mt against SHFE silver 2510 contract, observing the market. Despite the solder market gradually entering the off-season with slightly reduced rigid demand, other sectors saw end-users purchasing actively, leading to moderate transactions in the spot market.