SMM

Silver prices held up well today, with the spot-futures price spread for the most-traded ag2512 futures contract narrowing to within 10 yuan/kg. In Shanghai, large manufacturers and suppliers of national standard silver ingots maintained a premium of 25-30 yuan/kg against TD, but trading remained thin. Some suppliers held back from selling, maintaining a premium of 15-20 yuan/kg against the SHFE silver ag2512 futures contract. After consecutive gains in silver prices, downstream buyers retreated to the sidelines again. Spot market availability remained tight, with both supply and demand weak, leading to thin trading.