[SMM Weekly Review] Silver Prices Pull Back as Market Closes Accounts Before the Holiday

After silver prices rose on Monday this week, mid-week prices remained stable, fluctuating upward slightly. As it is late December, the market has gradually started year-end closing, leading to a relaxed sentiment in both sales and procurement, with significant differences between premiums and discounts in quotations and transactions.
【Economic Data】:
Bullish: The US November durable goods orders month-on-month figure was -1.1%, lower than the previous 0.8%; the US December Conference Board Consumer Confidence Index was 104.7, below the previous 112.8.
Bearish: The US December Richmond Fed Manufacturing Index was -10, higher than the previous -14; the US initial jobless claims for the week ending December 21 were 219,000, lower than the previous 220,000 and the expected 224,000.
【Spot Market】:
Silver: This week, spot market premiums and discounts remained around warehouse warrant parity, with major producers quoting at 2-3 yuan/kg. As it is late December, most trading enterprises have started year-end closing and inventory checks, with many companies gradually wrapping up their operations for the year. Since corporate targets have been largely met this year, the pressure on market sales and purchases has been relatively small. Procurement focused on low-priced goods, with the market engaging in price-driven competition. This week, downstream enterprises primarily made just-in-time procurement, with low replenishment demand.

》View SMM Precious Metals Spot Prices