Price Decline on January 14, Demand Weakens [SMM Daily Review]

Published: Jan 14, 2025 18:01

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[SMM Daily Review: January 14 Price Decline, Demand Emerges] The SMM 1# Silver ex-factory reference average price in the morning was 7,597 yuan/kg, down 173 yuan/kg from yesterday, a decrease of 2.2%.

Today, silver prices experienced a compensatory decline. The opening price of spot silver was $29.597 per ounce, and the SMM 1# silver ex-factory reference average price in the morning was 7,597 yuan per kilogram, down 173 yuan per kilogram from yesterday, a decrease of 2.2%. According to SMM, due to the decline in the absolute price of silver combined with the widening spot-futures price spread, market purchase sentiment was strong today. A slight stockpiling demand emerged downstream before the Chinese New Year. The national standard transaction price remained unchanged from yesterday, while the transaction price for large manufacturers increased by 1-2 yuan per kilogram compared to yesterday. Enterprises that purchased yesterday were constrained by yesterday's purchase costs and could not offer lower prices today. Today's transaction performance exceeded market expectations.

》View SMM Precious Metals Spot Prices

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