China March silver nitrate output and April forecast

In March, the market was not affected by CNY holidays. There were more working days in March than in February, combined with stockpiling for downstream demand, boosting the production. Domestic silver nitrate producers with sales qualifications produced 750 mt of silver nitrate in March, up 20.4% MoM and 38.9% YoY. The output of various regions increased by about 20%-30% MoM, while other regions decreased. In general, the production of silver nitrate in March showed an upward trend. High silver prices may suppress the output in April, and the rigid demand is limited.