Silver prices continued to hold up well during the day, rising for multiple consecutive trading days. The spot-futures price spread between the SHFE silver 2510 contract and TD remained at 30-33 yuan/kg, with suppliers maintaining a wait-and-see attitude and reluctance to sell. According to SMM, the TD premium for national standard silver ingot warrants in Shanghai, with cash and spot delivery, was quoted at 3-5 yuan/kg, but transactions at high premiums were difficult. Suppliers offering quotes against the SHFE silver 2510 contract maintained a discount of 22-24 yuan/kg, or a discount of 4-5 yuan/kg against the SHFE silver 2508 contract. With the spot-futures price spread not narrowing, suppliers still tended to hold back and wait, with downstream enterprises making only small amounts of just-in-time procurement. The overall spot market was sluggish.
