SMM

During the day, precious metal prices continued to be in the doldrums, while suppliers in the spot market slightly raised their premium quotations compared to last Friday. In the Shanghai area, after a few suppliers' premiums of 25 yuan/kg against TD were quickly sold out in the morning session, mainstream quotations for national standard silver ingot suppliers were quoted at premiums of 35-40 yuan/kg against TD, with limited rigid demand transactions. Additionally, some large-scale silver ingot suppliers held back from selling, quoting premiums of 35 yuan/kg against the SHFE 2512 contract or 40-45 yuan/kg against the SHFE 2602 contract, adopting a wait-and-see approach. As silver prices weakened, downstream rigid demand buying the dip increased slightly, but high premium quotations in the spot market remained relatively difficult to transact. After silver prices weakened, spot market transactions performed moderately.