Silver prices pull back under pressure, downstream inquiries are active, and market transactions improve slightly [SMM Daily Review]

Silver prices retreated and weakened during the day. Despite the spot-futures price spread between the SHFE silver 2510 contract and TD remaining at 30-33 yuan/kg, downstream purchase enthusiasm improved. According to SMM, in the Shanghai area, the TD premium for cash spot national standard silver ingot warrants was quoted at 4-5 yuan/kg, or a discount of 23-25 yuan/kg against the SHFE silver 2510 contract. A small volume of transactions occurred for silver ingots from large factories at a TD premium of 5-7 yuan/kg or a discount of 20-22 yuan/kg against the SHFE silver 2510 contract. After silver prices weakened during the day, downstream buyers actively negotiated prices and made purchases. Some suppliers slightly reduced their premiums, and trading in the spot market improved slightly WoW.