During the day, silver prices fluctuated at highs, and suppliers in the spot market generally held back sales, maintaining high premium quotes. In Shanghai, suppliers quoted and traded large-brand silver ingots at a premium of around 150 yuan/kg against TD, while some suppliers held back and adopted a wait-and-see approach with premiums of 200-250 yuan/kg against TD. After the holiday, industrial users gradually engaged in buying the dip for stockpiling, and rigid stocking demand gradually recovered, with spot market trades being moderate.
Silver Prices Consolidate, Downstream Demand Buys on Dips, Market Transactions Moderate [SMM Daily Review]
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