Silver Trade Gains Vitality in August

SHANGHAI, Sept. 28 (SMM) – A recent SMM survey conducted on sales at 10 representative silver trade enterprises shows silver trade turned slightly active in August.

Traded silver volume in August has slightly rebounded from July. These traders generally reported improved downstream purchases in August, which is due to lower silver prices and relatively sufficient capital at enterprises in early August, as well as improved downstream consumption which helped downstream processors resume production. Though downstream consumption remained relatively tight, as said by these traders, downstream enterprises did step out from the low-season in terms of both conventional terms for high and low seasons and actual consumption.

Meanwhile, silver transactions have seen significant growth in August. Though the traded volume is still far from an essential recovery, transactions by traders did recover in August compared with July. As such, traders actively purchased from smelters, and goods movement among traders also increased with drastically fluctuating silver prices.