According to SMM research and statistics, in April 2021, China's silver production was 1262.4 tons (including 1067.9 tons of mineral silver). Silver production increased by 5.61 percent month-on-month, and the overall output increased slightly. Due to the recent great changes in the Fed's interest rate policy and mixed worries about US economic data, the market fluctuated greatly at home and abroad in April, and the volatility also accelerated, but recently the export price gap tended to narrow. However, in the early stage, when quotas permit, manufacturers continue to complete the export volume in order to maximize profits. According to this month's data, The obvious increase in the output of some manufacturers is also partly due to the full production of export silver ingots, especially the operating rate of smelters with export quotas is higher than that of other smelters. However, the competition for silver-containing materials, including anode mud, is still fierce. Some manufacturers said that the valuation coefficient of silver-containing materials is still very high, and it is not easy to purchase silver-containing materials. Some manufacturers also continued to take the opportunity to repair in April, such as Yunxi. Gejiu Lianxing is still in the maintenance period, and in May, it was learned that a small number of manufacturers have maintenance plans. However, it is said that the construction of Gejiu Lianxing will start soon after the May Day holiday, and there should be fresh shipments of silver ingots in May. Of course, due to the difficulty of purchasing silver-containing raw materials, there has been a significant reduction in the output of silver or the amount of silver processing in a small number of production enterprises this month. In addition, SMM learned that due to the strict control of export tax rebates for silver products since the beginning of this year, recent regulatory efforts have also been strengthened, and it is expected that national silver production in May may still remain in a stable state, with a small possibility of fluctuations, and the overall trend that should be reduced or increased will not be too obvious.
Explanation: SMM has announced the national silver output of SMM since February. Silver is mostly associated with copper-lead-zinc mines. Thanks to the high coverage of SMM basic metals, there are a total of 48 SMM silver production enterprises, distributed in 17 provinces across the country, with a total sample capacity of 24000 tons and a total capacity coverage of more than 95%.
