Latest Update in the SMM Silver Market

The first annual Palladium Global Science Award competition is now live, with a total prize fund of $350,000. Scientists, startups and research groups involved in the study, analysis and development of new applications for palladium have to submit their entries until 31 July 2025. The China Precious Metals Industry Committee (CPMIC) is the main partner of the competition.

[SMM Daily Review: Macro Bullish Factors Boost Silver Prices to Continue Strengthening, Downstream Cautiously Procures and Observes] According to SMM, the premiums and discounts for cash spot large-brand silver ingots in Shanghai today were quoted at -2 to 0 yuan/kg or at a discount of 2-4 yuan/kg against the SHFE Silver 2504 contract. In the morning session, silver prices strengthened, and some suppliers expanded discounts for sales. Transactions for large-brand TD on par with parity were relatively difficult, while downstream buyers were cautious about high prices and observed prudently.

[SMM Daily Review: Silver Prices Continued to Fluctuate Upward on March 5, Spot Market Transactions Declined] According to SMM, today's cash spot prices for national standard silver ingots in the Shanghai area were quoted at -3 yuan/kg to parity, while premiums and discounts for large-scale silver ingots were quoted at 0-1 yuan/kg. The weakening US dollar index supported silver prices to fluctuate upward, but downstream purchasing enthusiasm was low, leading to a decline in market transactions.

[SMM Daily Review: Silver Prices Fluctuated at High Levels on March 4, Some Suppliers Expanded Discounts] According to SMM, the spot national standard silver ingot prices in Shanghai for cash transactions today were quoted at -4 yuan/kg to parity, while the premiums and discounts for large-scale silver ingots were quoted at 0-2 yuan/kg.

[SMM Daily Review: Silver Prices Rebounded Slightly on March 3, Market Transactions Remained Sluggish] According to SMM, the premiums and discounts for cash spot national standard silver ingots in the Shanghai market were quoted at a discount of 2-0 yuan/kg today, with major suppliers offering on par with the market for transactions. During the day, the spot-futures price spread inverted, and the discount of suppliers against the SHFE silver 2504 contract narrowed significantly compared to yesterday.

[SMM Analysis: Slight Decline in Silver Powder Production in February] In February, affected by the operating rate and silver prices, production experienced a slight decline.

[SMM Silver Market Weekly Review: Macro Bullish Factors Nearing End, Silver Prices Pull Back from Highs] The US issued the latest round of tariff threats, and negotiations to end the Russia-Ukraine conflict remain contentious, intensifying market nervous sentiment. On Friday, due to a surge in Japan's inflation rate, the US dollar weakened, and precious metal prices rebounded. However, in the short term, the US Fed's monetary policy direction and geopolitical developments remain the main factors influencing precious metal prices. Caution is still needed regarding the escalation of geopolitical risks and the increased safe-haven demand caused by the deterioration of global economic data.

[SMM Analysis: Diverse Macro Information - Will Silver Rise or Fall?] Macro information is diverse, and silver has experienced a price decline. How will it change in the future?