Prices of Silver Powder were Low as the Prices of Raw Materials Fell

SHANGHAI, Apr 28(SMM) - SMM1# silver prices stood at 4,881 yuan/kg, down 65 yuan/kg or 1.3% from yesterday; silver powder at 5,131-5,231 yuan/kg; flake silver powder at 5,331-5,431 yuan/kg and non-flake silver powder at 5,181-5,281 yuan/kg, all down 65 yuan/kg from yesterday. According to SMM, silver paste manufacturers began to restock according to the normal demand for the Labour Day holiday. But the pandemic has affected the terminal demand, which has reduced year-on-year. The small silver paste manufacturers did not open in east China, which suppressed the demand for silver paste. Processing fees for silver powder remained unchanged due to the low demand and high costs. Therefore, changes of silver prices have become the main factor affecting the prices of silver powder. For silver prices, the rising US dollar as well as higher yields have put gold and silver prices under pressure, while the prices of silver and silver powder fell today.