SHANGHAI, Sep 23 (SMM) - China exported 170 kg of silver nitrate in July, a year-on-year increase of 31%, but there was no export in August, down 120 kg on the year. As of August, exports of silver nitrate totalled 1,370 kg in 2022, a year-on-year decrease of 70%.
According to SMM, the huge decrease in export was mainly because overseas demand was weak as the domestic silver prices were higher than the overseas silver prices. Australia, Malaysia, Vietnam and other places are the main exporters of China’s silver nitrate and traders purchase silver nitrate to make silver powder and silver-plated balls for Christmas decoration. The manufacturing process of silver nitrate is not complicated, but the manufacturers are required a processing device and an EIA as silver nitrate was explosive material. Other regions with relatively complex production conditions can also process silver nitrate. Therefore, the prices become the main factor affecting the exports of silver nitrate. As the domestic silver prices were higher than the overseas silver prices recently, the domestic silver nitrate export declined. The prices of silver nitrate exported in July was about 3.9 yuan/g, which is relatively cost-effective.
In September, the price spread between China and overseas narrowed and the Chinese yuan depreciated. Therefore, SMM expects that the export of silver nitrate in September may increase as some overseas buyers did not restock in the early stage. However, since the domestic prices are still higher than that of foreign countries, overseas enterprises purchase as needed.