Silver Prices Saw Slight Correction, Spot Market Premiums Declined [SMM Daily Review]

Precious metal prices saw a slight correction today, with the spot-futures price spread between TD and the most-traded SHFE silver contract narrowing, and spot market premiums also declining slightly. In the Shanghai region, mainstream quotations from suppliers of national-standard silver ingots during the morning session were quoted at premiums of 30-50 yuan/kg against TD, or at parity with the SHFE silver ag2604 contract, or at discounts of 15-30 yuan/kg against the SHFE silver ag2606 contract. However, downstream consumption remained sluggish with significant bargaining, and some suppliers lowered their quotations to premiums of 10-20 yuan/kg against TD to sell off and recover funds. Actual transactions overall remained sluggish.