Today, silver prices fell back from highs as the spot-futures price spread between SHFE silver and TD silver widened, and suppliers maintained spot premium quotes. According to SMM, suppliers of national standard silver ingot warrants for spot cash transactions in Shanghai quoted premiums of 3-5 yuan/kg against TD silver, while large-scale silver ingot producers quoted premiums of 5-8 yuan/kg against TD silver. In Shenzhen, spot national standard silver ingots were quoted on par with TD silver or at a discount of 22-25 yuan/kg against the SHFE silver 2508 contract. Spot trades during the day were still dominated by purchases from traders, with a small volume of transactions driven by downstream end-user demand. Some high-premium spot transactions were sluggish. As silver prices pulled back, inquiries and transactions increased, and the spot market showed signs of a slight improvement in trading activity.
![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)
