Today, silver prices fluctuated and consolidated. According to SMM, in Shanghai, the spot silver ingots (national standard) with cash payment and warrant TD were quoted at a premium of 2-3 yuan/kg or at a discount of 7-8 yuan/kg against the SHFE silver 2508 contract. Large manufacturers quoted silver ingots at a premium of 3-4 yuan/kg for warrant TD. After the spot-futures price spread widened during the day, transactions for warrants quoted at a discount to the SHFE silver contract slowed down, and some suppliers suspended quoting and held onto their inventory for observation. Following the recent correction in silver prices, traders' enthusiasm for inquiring and negotiating prices and then buying the dip improved slightly, but downstream rigid demand remained limited, and overall market transactions were relatively sluggish.
