Silver prices rose consecutively, with spot transactions appearing sluggish as the weekend approached [SMM Daily Review]

Silver prices continued to hold up well today. The spot-futures price spread for the SHFE silver 2510 contract against TD widened slightly to 25-29 yuan/kg, with some suppliers marginally increasing their premium against TD. According to SMM, in the Shanghai area, spot standard silver ingots were traded at a 3-5 yuan/kg premium against TD on a cash basis. Some suppliers quoting against the SHFE silver 2510 contract were reluctant to sell at a 20 yuan/kg discount, while large producers' silver ingots were transacted at a 5-7 yuan/kg premium against TD based on rigid demand. After the continuous rise in silver prices, procurement enthusiasm from some downstream end-users has slightly declined, and as the weekend approaches, spot market transactions have become quieter.