Silver Spot Premiums Rise, Easing Silver Nitrate Processing Fee Competition; Shift to Toll Processing Noted

Published: Mar 23, 2026 09:41

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It was learned that, due to the significant increase in silver spot premiums in Q1 2026, the competitive pricing environment for silver nitrate processing fees had eased, and the involution situation had moderated. Among them, processing fees for small-client orders were raised somewhat, while processing fees for large-client orders had not yet shown an upward trend.

In addition, affected by the temporary shortage of silver ingot supply around the Chinese New Year, some silver nitrate enterprises faced constraints in raw material procurement, rejected some downstream orders, and instead took on a large number of toll processing orders in which downstream enterprises supplied the silver ingots.

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