Silver Price Slightly Fluctuated on November 21 [SMM Daily Review]

Today, silver prices slightly fluctuated. The opening price of spot silver was $30.843 per ounce. The ex-factory reference average price of SMM #1 silver in the morning was 7,725 yuan per kilogram, down 7 yuan per kilogram from yesterday, a decrease of 0.09%. According to SMM, the premium for spot national standard silver ingots in the Shanghai area today was 1 yuan per kilogram by cash, and for spot silver ingots from large factories, it was 3-5 yuan per kilogram by cash. The spot-futures price spread remained high today, market selling enthusiasm was not high, and only a few spot orders were transacted.

PV: Today was normal. Recent order conditions have improved compared to October, and the market maintained stable production. Due to adjustments in the downstream market production schedule in December, demand is expected to slightly decrease in December.