Intraday silver prices pulled back slightly, and the spot-futures price spread of TD - the most-traded SHFE silver 2602 contract continued to narrow, with market premiums still experiencing a slight decrease. In Shanghai, mainstream quotations from suppliers of national standard silver ingots against TD were lowered slightly to premiums of 10~15 yuan/kg, or at discounts of 5~10 yuan/kg against the SHFE silver 2602 contract. Additionally, some large manufacturers' silver ingots were quoted at discounts of 0~5 yuan/kg against the SHFE silver 2602 contract. In Shenzhen, suppliers reported weak purchasing interest from downstream consumers, with relatively ample spot supply circulating in the Shuibei market. Some suppliers increased their discounts against the SHFE silver 2602 contract to liquidate stocks. Downstream caution towards high prices and reluctance to purchase have not improved, with poor enthusiasm for buying the dip, leading to thin trading in the spot market.
