SMM

According to SMM, in the morning session today, the premiums and discounts for TD warrants of national standard silver ingots quoted on a cash and spot basis in Shanghai were 5-6 yuan/kg. In Shanghai, the spot silver from large factories was quoted at a premium of 7-8 yuan/kg against TD or at a discount of 2-3 yuan/kg against the SHFE silver 2506 contract, with a small volume of transactions driven by rigid demand. In Shenzhen, a few suppliers slightly lowered their TD premiums for national standard silver warrants to 3-5 yuan/kg. Today, silver prices consolidated sideways. After the delivery of the SHFE silver 2505 contract, some suppliers did not quote prices for purchases, resulting in a relatively tight supply of silver in the market. Downstream buyers adopted a wait-and-see attitude and made cautious purchases, leading to sluggish market transactions.

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