SMM Data: China Silver Production in November And December Forecast

In November, silver production decreased, with 16 enterprises reporting reduced production. The reasons for the production decrease were: 1. Annual plans were basically completed, leading to market-controlled production. 2. Fluctuations in silver content in raw materials. 3. The rise in silver prices in October reduced market enthusiasm for recycling and procurement. 4. The decline in prices in November reduced market enthusiasm for production and shipment. Eleven enterprises reported increased production. The reasons for the production increase were: 1. Completion of maintenance and resumption of production. 2. Fulfillment of long-term contracts and export orders. 3. Catching up with production schedules. The reduction in production outweighed the increase, resulting in an overall downward trend in production.

In December, due to the US Fed's interest rate cut information, market prices slightly increased. However, as the market prepared for the Chinese New Year and adjusted inventories according to annual plans, production in December is expected to slightly decline.