Silver prices fluctuated at highs today, with domestic spot supply tightening further and significant disparities in market quotations. The spot-futures price spread for TD against the most-traded SHFE silver 2512 contract maintained at 30-40 yuan/kg during the day. Suppliers of large-factory silver ingots in Shanghai raised their TD premium quotations to 30-35 yuan/kg, while some suppliers narrowed their discounts against the SHFE silver 2512 contract to parity. National standard silver ingots were quoted at a TD premium of 25-30 yuan/kg. With limited circulating supply in the market, downstream rigid demand prioritized purchasing large-factory silver ingots. Market traders exhibited strong wait-and-see sentiment, and transactions for some national standard silver ingot suppliers weakened.
