Mike Costello
BBC Sport boxing correspondent on Radio 5 Live

Callum Smith walks in very laboured fashion back to his corner.

Steve Bunce is championing the quality on show here, stating neither man is wasting a shot if they can help it and what they do throw is accurate.

Word Buncey, word.

Into the seventh. Callum Smith tries to drill a right hand home but it's off target and results in a grapple. The fight is at range, where Smith wants it. In comes Ryder with a left hook but it doesn't land cleanly. He's in close now, where he wants to be, burrowing away like a mole to create some shooting space.

A right hook onto Smith's temple looks clean. Smith gets out of the tussle and looks to be blowing a touch does he? Ryder is game, wipes his nose and sets about trying to work his way in close again. A right hand to Smith's body. This is Ryder's round for me and this fight is close. Very close.

Steve Bunce
BBC Radio 5 Live boxing pundit

Look at the quality. They barely missed from a wild shot. They have barely fallen short. The quality we are getting almost week in and week out and we are seeing it here. It is beautiful to watch.

This sport really is a puzzle. Last time out Callum Smith gets into the ring with the experienced Hassan N'Dam and takes him apart. This time around he's a lot more timid. It goes to show that each fighter brings a different puzzle.

A super left-hook into right hand combination from Smith. The left hook was a distraction shot and created some space through the guard. Another good right hand gets home and is placed really well by Smith. Those shots will feel good on the champion's gloves.

We are halfway through and that was better from Smith.

Image source, Getty Images

Without a doubt, the more relaxed corner right now belongs to John Ryder.

Anyone for an upset?

Steve Bunce
BBC Radio 5 Live boxing pundit

We've got a fight on our hands! This will be split around here - split!

Natasha Jonas
First female British Olympic boxer on BBC Radio 5 Live

That was a good round for both boxers. It has livened it up. I am watching Callum's footwork which is something we work on the gym and he is doing his footwork perfectly.

This is a touch flat from Callum Smith after 12 minutes.

John Ryder again gets his way by taking things up close and the hooks are winging in from both men. The cut above Smith's right eye isn't looking too bad. A double jab from Smith gets a call of "good, good, good" from his trainer but once again, Ryder drives forward, head down, relentless. He's pushed Smith to the tropes and a wild hook gets home onto the side of the champion's face. The roars go up in Liverpool as suddenly this is wide open.

Smith fights back, jab and right hand are eye catching but my word, he's in a fight.

Image source, Reuter

Natasha Jonas
First female British Olympic boxer on BBC Radio 5 Live

Ryder had the better round there. He was throwing better shots although Callum's were a lot cleaner.

Steve Bunce
BBC Radio 5 Live boxing pundit

There have been a couple of heads flying in because they have both been desperate to land body shots.

Callum Smith's trainer Joe Gallagher: "You're allowing him to touch you too many times without a response son."

Blood coming from above Callum Smith's right eye!

Into round four. One wonders how much energy John Ryder is burning early on. The pair are up close and Ryder drives a right and a left into the body. Smith is guarding up and takes them on his elbows. This is warming up a treat.

Smith steps back to find space and flicks two jabs up but again he is pressured by the smaller man who is clearly desperate to close the distance. A jab and a super body shot from Smith with the right hand. Ryder takes it like a man who spends his life doing sit ups.

Some 40 seconds or so to go in the fourth. Smith's brothers are ringside and haven't blinked in this round. It's a tense one and very close.

Natasha Jonas
First female British Olympic boxer on BBC Radio 5 Live

Once Callum gets in a rhythm he will be accurate. He is using that stab into the body. Callum didn't get caught up in the moment. There were a couple of moments when the crowd went mad but he stayed calm and didn't jump on it.

Callum Smith's trainer Joe Gallagher: "When you have the exchanges, be aware, as you punch he is looking to punch back on your way out. Stay patient, stay throwing your shots."

I'll be honest, John Ryder is looking neat and tidy. He comes forward with a one-two and Smith responds with a combination of his own halfway through the third. A straight right from Smith gets through. Ryder is a bundle of energy, Smith a lot more poised and measured.

A good jab from Ryder rocks the head of the Liverpudlian and as the final 30 seconds of the round tick over the pair are fighting up close, their heads touching.

Nothing in it. I'd have this as 2-1 Ryder so far but no one is dominant so you could have it many ways...

Image source, PA Media

Steve Bunce
BBC Radio 5 Live boxing pundit

Some smart work there from John Ryder. I'm not sure if he won the round but some smart work. He didn't panic.

Callum Smith is controlling things but Ryder is smart enough to make things awkward.

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John Ryder goes forward early in the second round, backing Callum Smith up and digging a left hand int the body. And again, here he comes, a left hook and a shot to the body.

Good jab by Smith though gets his man on the forehead and establishes some authority for a few seconds.

Smith, gold gloves, taking his time, pensive, perhaps too pensive. Ninety seconds of the second to go.

Smith has been pushed back to the ropes a couple of times and I refuse to believe his bigger frame can be pushed back in such a way. I wonder if he's setting a trap and allowing his man to take him there. It wouldn't surprise me if he goes back to the ropes shortly and throws something on the counter that he's already lining up.

Another close round though as the crowd sing in Liverpool. Ryder makes Smith miss with a jab and lands one of his own - nice work. A good right hook from Ryder is the best shot of that round.

Not a lot in it so far.

Image source, PA

Steve Bunce
BBC Radio 5 Live boxing pundit

He was just trying to get a gauge, get a measure. Very much in control. The height and the reach we know are big problems for Ryder. He will have to take a risk.

Natasha Jonas
First female British Olympic boxer on BBC Radio 5 Live

I thought Callum Smith showed good variety. He was mixing up with hooks and straights. Callum has these micro footsteps after every punch he throws and it gets him round the angles.