According to SMM, today's cash-and-cargo TD premiums and discounts for national standard silver ingot warrants in the Shanghai region remained at 5-6 yuan/kg or a discount of 5 yuan/kg against the SHFE silver 2506 contract. The quotes for silver ingots from large smelters were at a premium of +7-8 yuan/kg, while individual smelters offered national standard silver ingots for pre-sale at a discount of 10 yuan/kg against the SHFE silver 2506 contract. Despite no adjustments to today's spot premiums/discounts, the SHFE silver-TD spot-futures price spread narrowed to within 10 yuan/kg. Suppliers' enthusiasm for selling significantly improved, and market transaction volumes increased.
![This Week, Platinum and Palladium Experienced Significant Pullbacks, End-Use Demand Recovered, and Spot Market Trading Was Normal [SMM Platinum and Palladium Weekly Review]](https://imgqn.smm.cn/usercenter/obeMy20251217171735.jpg)
![Silver Prices Continue to Pull Back, Suppliers Remain Reluctant to Sell, Spot Market Premiums Hard to Decline [SMM Daily Review]](https://imgqn.smm.cn/usercenter/LVqfJ20251217171736.jpg)
