Today, silver prices continued to retreat. According to SMM, suppliers holding warrants for national standard silver ingots in Shanghai, with spot payment and spot delivery, quoted premiums of 3-5 yuan/kg against TD. Large-scale silver ingot producers quoted premiums of 5-8 yuan/kg against TD. Some traders offered discounts of 18-20 yuan/kg against the SHFE silver 2508 contract, but transactions were sparse. Downstream enterprises maintained just-in-time procurement. As the mid-year approached, amid the demand for mid-year account settlement from some enterprises, overall spot market transactions remained sluggish.
