SMM

Silver prices were in the doldrums today, with high spot premium quotes gradually decreasing in the spot market, and mainstream transaction prices showed relatively small changes compared to yesterday. During the day, the spot-futures price spread for TD against the most-traded SHFE silver 2512 contract remained at 10-20 yuan/kg. In Shanghai, silver ingot suppliers maintained spot premiums of 25-35 yuan/kg against TD or 10-20 yuan/kg against the SHFE silver 2512 contract while offering for sale. A small number of transactions were still recorded in the market for silver ingots delivered to end-users with TD premiums of 45-50 yuan/kg. It was learned that the tight supply of spot cargo in circulation gradually eased, with downstream end-users actively inquiring and buying the dip. Amid the decline in spot premiums and silver prices, market transactions were moderate.