Silver Nitrate Exports in March Decreased by 84% Compared with January and Decreased by 84% YoY

SHANGHAI, Apr 22 (SMM) - According to the latest data from the General Administration of Customs of China, the export volume of silver nitrate (general trade) was 160 kg in March 2022, a decrease of 84% from January and a decrease of 84% YoY. The export volume in January 2022 was 1,021 kg, and that in March 2021 was 1,005 kg. In January, the silver nitrate was mainly exported to Malaysia, Vietnam and Hong Kong, China, while in March, it was exported to Australia.

According to SMM research, the production of silver nitrate in 2021 in China was 5,000-6,000 mt, while the export volume in the same year was 7 mt. It can be seen that silver nitrate is still mainly used to meet the consumption demand in China. The change in export quantity is mainly caused by the spread between China and overseas. In February and March 2022, the global silver prices rose due to the Russia-Ukraine conflict. In March, the average price of exported silver nitrate was 3,990.5 yuan/kg, which was 3% higher than that in January. The increase in silver prices in China was higher than that in the overseas market, losing the advantage, which is also the reason for the year-on-year decrease in export volume in February and March. Besides, the importer of silver nitrate dropped to only one, Australia, in March 2022. Because of the narrow spread between China and overseas and the previous stocks, the former importer, Malaysia, did not purchase silver nitrate in February and March 2022.

In the first quarter of 2022, the export volume of silver nitrate was 1,181kg, a year-on-year decrease of 0.08%, and the average price per kilogram dropped by 4%.

Silver nitrate imported overseas is mainly used to produce silvers balls on Christmas trees, and the demand does not change significantly. Overseas purchasing volume in February and March was small as the importers bought a large amount of silver nitrate in January, which was not completely consumed. Therefore, the total export volume of silver nitrate in the first quarter of 2022 remained stable compared with the same period last year.

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The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.