[SMM Precious Metals Express]

Published: Jul 31, 2026 18:31

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SMM reported on July 31 that in July 2026, SMM silver nitrate production reached 646 mt, down 11.0% MoM and 28.93% YoY, mainly due to cautious production scheduling by solar cell enterprises, weak orders at silver paste factories, and cooling downstream demand transmission for silver nitrate; coupled with the continued penetration of PV silver reduction technologies, the industry's silver demand trended downward. The sharp YoY decline stemmed from a high demand base in the same period last year, combined with ongoing silver reduction in the PV sector.

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