The easing of trade tensions led to a weakening of silver prices, while the spot market premium remained unchanged from yesterday. [SMM Daily Review]

According to SMM, the premiums and discounts for spot warrant TD of standard silver ingots in Shanghai today remained at +3 to +5 yuan/kg, while the premiums for large smelters' silver ingot TD were +5 to +7 yuan/kg. As the month-end approached, some smelters focused on shipments under long-term contracts, and spot order inventories were sold out. Silver prices weakened today, but the spot TD premiums were not adjusted. Downstream just-in-time procurement led to an overall subdued market. View SMM's precious metals spot prices.