Silver Prices Slightly Rebound, Spot Market Trading Remains Sluggish [SMM Daily Review]

Published: Oct 29, 2025 11:27

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Silver prices rose slightly today, with significant disparities in market quotations and thin trading at high premiums. The spot-futures price spread for the most-traded ag2512 futures contract was around 20 yuan/kg during the day. Silver ingot suppliers in Shanghai maintained offers at a premium of 35-40 yuan/kg against TD or a premium of 20 yuan/kg against the SHFE silver 2512 contract, but trading remained relatively thin. Some traders also sold at a premium of 20-30 yuan/kg against TD. Spot market prices were chaotic and varied widely, with downstream buyers cautiously watching and mainly making just-in-time procurement. Overall market trading was thin.

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