In July, SMM1# silver production was 1,453.578 mt (including 990.578 mt from mining), up 15.964 mt from June, up 1.1% MoM, and up 7.6% YoY.
Nine companies increased their silver production in July. The reasons for the increase compared to June were: 1. Resumption of production after maintenance in July. 2. Increased silver content in raw materials. 3. High silver prices in early to mid-July stimulated market production. 4. The price of silver-containing materials fell in June compared to earlier periods, leading companies to increase recycling volume. 5. Companies adjusted production strategies.
Fifteen companies reduced their silver production in July. The reasons for the decrease were: 1. Some companies started maintenance in July. 2. Fluctuations in raw material content. 3. Silver prices fell in mid to late July, leading some companies to adjust production and shipment strategies.
The increase in silver production in July was higher than the decrease, resulting in a slight overall increase. However, since mid-July, silver prices have plummeted, and the decline continued into August. Due to price fluctuations and maintenance in July and August, it is estimated that production in August will see a slight decline.
