According to SMM, the cash spot price for national standard silver ingots in the Shanghai region today was quoted at -3 yuan/kg to -1 yuan/kg, while the premiums and discounts for large-scale silver ingots declined to 0-1 yuan/kg. During the day, the spot-futures price spread for the SHFE silver April contract narrowed, and the spot market discounts widened. Trading activity in the trade market was active, and downstream purchase intentions slightly improved as silver prices corrected and TD discounts widened.
