Silver Prices Rise Slightly on January 15 [SMM Daily Review]

Silver prices rose slightly today, with the opening price of spot silver at $29.896/oz. The ex-factory reference average price of SMM 1# silver in the morning was 7,604 yuan/kg, up 7 yuan/kg from yesterday, an increase of 0.09%. According to SMM, as today is the delivery day, the market was engaged in futures delivery and cargo pick-up. Since spot premiums/discounts remained around parity with the national standard, large producers quoted 3-5 yuan/kg. As a result, there was a possibility of obtaining well-branded products during cargo pick-up today. Futures trading was relatively active, while spot trading activity was weaker.

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