Silver prices held up well today, with the spot-futures price spread against the most-traded SHFE silver 2512 contract remaining within 15 yuan/kg. In Shanghai, the premium offered by large manufacturers and national standard silver ingot suppliers against TD has not shown significant changes compared to last week, with almost no price difference among different brands. The mainstream spot transactions maintained a premium of 25-35 yuan/kg against TD, while suppliers quoted a premium of 10-20 yuan/kg against the SHFE silver 2512 contract. Some suppliers reported that transactions at high premiums were relatively difficult, and spot market supply remained tight. Downstream buyers continued to make just-in-time procurement, but the wait-and-see sentiment in the market remained strong, and trading activity was relatively subdued.
