Silver Prices Fluctuated and Rebounded, Spot Market Premiums Remain High with Thin Trading [SMM Daily Review]

Silver prices rose slightly today, with the spot market maintaining premium quotes, but actual trading remained sluggish. The spot-futures price spread for the most-traded ag2512 futures contract widened to 30-40 yuan/kg. In Shanghai, suppliers of large-brand silver ingots raised their premium quotes against TD to 50-60 yuan/kg, but almost no deals were concluded. Some suppliers quoted a premium of 10-20 yuan/kg for large-brand silver ingots against the SHFE silver 2512 contract, while national standard silver ingots were quoted at parity against the December contract. Spot market quotes still varied widely, with some suppliers accepting slight price negotiations to close deals. Downstream buyers remained largely on the sidelines, and overall market trading was sluggish.