Silver Prices End Correction and Rise to Compensate for Earlier Gains, Spot Market Trading Moderate [SMM Daily Review]

Silver prices ended the correction and rose today, with the spot-futures price spread for SHFE silver 2510 contract slightly widening to 20-25 yuan/kg. In Shanghai, suppliers of national standard silver ingots offered a premium of 3-4 yuan/kg against TD or a discount of 17-18 yuan/kg against SHFE silver 2510 contract, while suppliers of large-brand silver ingots offered a premium of 5-6 yuan/kg against TD or a discount of 15 yuan/kg against SHFE silver 2510 contract. In Shenzhen, national standard silver ingots traded at a premium of 3-5 yuan/kg against TD for rigid demand. Some traders purchased and built positions today, and trading in the spot market was moderate. Downstream end-users took a brief wait-and-see approach after mid-week stockpiling.