SMM

During the day, silver prices experienced a slight correction, and the tight supply of spot cargo in the spot market gradually eased. In the Shanghai area, suppliers' large-factory silver ingot premiums against TD were lowered to 100-150 yuan/kg. In the morning session, a few suppliers completed small trades with TD premiums of 150-200 yuan/kg. Investment demand in the spot market weakened, and in the Shenzhen area, there were occasional offers for tax-excluded spot cargo almost on par with TD. After silver prices weakened, investment enthusiasm noticeably declined. Downstream enterprises actively inquired and negotiated prices, with moderate rigid stocking demand, and premium quotes in the spot market gradually returned to normal.