Silver Ingot Market in the Doldrums, Traders Offered Firm Prices but Downstream Purchase Willingness Remained Sluggish [SMM Daily Review]

Today, SMM silver ingot spot trades were still dominated by slight premiums and parity. Affected by the slight decline in precious metals prices, overall trading in the silver ingot market was sluggish, and suppliers showed weak willingness to sell.

Some smelter supplies are not expected to enter the market until late April. Currently, traders overall held prices firm and held back from selling, with early session offers at TD+30-40 yuan/kg. Driven by position rollover and delivery demand, traders overall held their cargo and took a wait-and-see approach. However, downstream demand was weak, purchase willingness remained subdued, and most buyers preferred to negotiate prices before closing deals.