Silver Nitrate Manufacturers Held Firm to their Prices, while the Downstream Companies Purchased on Rigid Demand

SHANGHAI, Jun 8 (SMM) - In the early trading today, the stock market rose, and the yield of 10-year US bonds continued to increase. The investors transferred their funds to the stock market, the US dollars and the US bonds, so the prices of silver TD fluctuated and dropped. At 10 a. m., the average price of SMM #1 silver was 4,736 yuan/kg, down by 3 yuan/kg, or 0.06%, from the previous trading day. The prices of silver nitrate were 3,088-3,105 yuan/kg, up by 5.5 yuan/kg from the previous trading day. In the early trading, the prices of raw materials inquired by silver nitrate manufacturers were high, so they offered higher silver nitrate prices than the previous trading day. With the dropping of spot prices of silver, silver nitrate manufacturers generally held firm to their prices. However, the downstream companies could not accept the high prices and only purchased on rigid demand, so the trading was relatively slack.