Silver Prices Fell Sharply amid Hawkish Remarks_SMM

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Home / Metal News / Precious Metals / Silver Prices Fell Sharply amid Hawkish Remarks

Silver Prices Fell Sharply amid Hawkish Remarks

Jan 19, 2023 15:26

CST

Source:SMM

James Bullard, chairman of St Louis Fed said in a media interview that he supported to raise interest rates by 50 basis points.

SHANGHAI, Jan 19 (SMM) - James Bullard, chairman of St Louis Fed said in a media interview that he supported to raise interest rates by 50 basis points. If so, the interest rates shall be above 5% to depress inflation. The prices of silver declined amid the hawkish remarks. The spot silvers were $23.46/ounce, and the average ex-factory price of SMM1# silver was 5,110 yuan/kg, up 146 yuan/kg or 2.8% from yesterday. According to SMM research, the transactions were very light.

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Shanghai nonferrous metals closed with losses as the market players were still weighing the hawkish speech from Fed Chair Powell last Friday, indicating that the tight monetary policy is needed for some time. And ECB management committee Kazaks also said the ECB should raise interest rates by at least 50 basis points in September.

Aug 29, 2022 18:00 timezone

CST

SMM Comments

SMM Evening Comments (Aug 29): Shanghai Nonferrous Metals Closed with Losses amid Extending Tight Monetary Policy Orientation

Peruvian Ministry of Economy and Finance: Copper Prices to Fall to $3.40/lb in 2023

On Thursday, the Ministry of Economy and Finance of Peru predicted that copper prices might drop from $3.90/lb on average this year to $3.40/lb in 2023. Peru is the second largest copper producer in the world.

Aug 26, 2022 10:53 timezone

CST

Industry News

Peruvian Ministry of Economy and Finance: Copper Prices to Fall to $3.40/lb in 2023

EMM Plants Held their Prices Firm Because of the High Bid Prices

On August 24, the average price of spot EMM in the main producing regions across China stood at 14,500-14,700 yuan/mt, up 100 yuan/mt from the previous trading day.

Aug 24, 2022 17:33 timezone

CST

SMM Comments

EMM Plants Held their Prices Firm Because of the High Bid Prices

China's Imports of Tin Concentrate in July Rose Sharply, and Myanmar Contributed the Most

According to the customs data, China's imports of tin ore and concentrate stood at 23,064 mt in July, up 21.17% YoY. The imports totalled 151,272 mt from January to July, up 39.72% YoY.

Aug 22, 2022 17:00 timezone

CST

SMM Insight

China's Imports of Tin Concentrate in July Rose Sharply, and Myanmar Contributed the Most

Due to the Huge Increase in Raw Material Prices, DMC Prices Rose 1,850 yuan/mt on the Week!

As of last Friday, the DMC Prices stood at 20,800-21,000 yuan/mt, up 1,850 yuan/mt or 9.7%.

Aug 22, 2022 13:29 timezone

CST

SMM Comments

Due to the Huge Increase in Raw Material Prices, DMC Prices Rose 1,850 yuan/mt on the Week!

Spot Trading Remained Poor amid High Nickel Prices

On August 22, spot premiums of Jinchuan nickel were 5,300-5,500 yuan/mt. The average price stood at 5,400 /mt, down 350 yuan/mt from the previous trading day.

Aug 22, 2022 11:07 timezone

CST

SMM Comments

Spot Trading Remained Poor amid High Nickel Prices

Aluminium Costs to Remain High amid High Coal Prices

SHANGHAI, Aug 22 (SMM) - The costs of aluminium smelters remained largely stable last week.

Aug 22, 2022 10:44 timezone

CST

Industry News

Aluminium Costs to Remain High amid High Coal Prices

SMM Morning Comments (Aug 22): Base Metals Closed Mostly with Gains with Support from the Fundamentals

SHFE base metals mostly closed with gains with support from the fundamentals as extensive power rationing has greatly dented the supply side, while it is worth attention that the consumption side has also been affected. LME base metals, on the other, closed mixed as investors await further guidance from economic performance on the September rate hike.

Aug 22, 2022 10:00 timezone

CST

SMM Comments

SMM Morning Comments (Aug 22): Base Metals Closed Mostly with Gains with Support from the Fundamentals

Social Inventory of Pure Nickel Declined Slightly Last Week amid the Poor Transactions

Pure nickel inventory in six regions totalled 7,692 mt last week, down 92 mt than a week ago. Nickel briquette inventory stood at 950 mt, flat from a week ago.

Aug 22, 2022 09:39 timezone

CST

SMM Comments

Social Inventory of Pure Nickel Declined Slightly Last Week amid the Poor Transactions

The Supply of Battery Scrap Increased Slowly and the Prices Remained High

As the lead prices declined at the beginning of last week, most secondary lead smelters lowered the purchase prices of battery scrap by 25-50 yuan/mt. The cargo holders of battery scrap were less willing to ship and the smelters purchased as needed.

Aug 22, 2022 09:36 timezone

CST

SMM Comments

The Supply of Battery Scrap Increased Slowly and the Prices Remained High

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