SMM

Silver prices were in the doldrums today, and spot premiums in the domestic spot market showed no significant change compared to yesterday. In Shanghai, suppliers of large-plant silver ingots maintained TD premiums at 120-150 yuan/kg, while a few suppliers held offers firm with TD premiums of 150-180 yuan/kg. In Henan, Shandong, and other regions, cargoes self-picked up from production sites were still offered at TD premiums of 80-100 yuan/kg. In Shenzhen, the downward trend in spot market premiums showed signs of slowing down, with some suppliers offering small quantities at TD premiums of 120 yuan/kg. Suppliers maintained premium offers; after silver prices weakened, downstream customers placed orders at lower prices, but physical holders generally held prices firm and were reluctant to sell. The decline in spot premiums was limited, some traders watched cautiously due to fear of further price drops, and market transactions turned slightly weaker.