Silver Prices Fluctuate at Highs, Spot Market Maintains Premium Trading [SMM Daily Review]

Silver prices continued to fluctuate at highs today, with domestic spot market premiums rising slightly compared to last Friday. In Shanghai, suppliers of large-brand silver ingots offered premiums of 150-200 yuan/kg against TD, with some suppliers reluctant to sell at premiums of 200 yuan/kg against the SHFE silver 2604 contract. Suppliers of national standard silver ingots quoted premiums of 140-150 yuan/kg against TD, while cargoes self-picked up from production sites in Henan and Shandong maintained premiums of 100 yuan/kg against TD. The incident of two material suppliers absconding in Shenzhen had a temporary impact on local demand, leading to a strong wait-and-see sentiment in the market. Some traders mentioned that transactions of large-brand silver ingots improved slightly today, supported by rigid demand from electrical alloy sectors, while investment demand and high-premium transactions of national standard silver ingots remained relatively difficult. Overall market transactions remained sluggish.