[SMM Flash News: 8834! SHFE Silver Hits New High Since Listing! Precious Metals Sector Rises Over 3%, Hunan Silver Hits Daily Limit] Recently, the US economic data for May has been underperforming, with initial jobless claims rising to the highest level in seven months, a significant MoM decline in the US ADP employment data, and the ISM non-manufacturing index falling below the 50 mark, exceeding expectations. Concerns over a slowdown in US economic growth have intensified, leading to heightened expectations for US Fed interest rate cuts. The European Central Bank (ECB) cut interest rates by 25 basis points as expected. Renewed concerns over geopolitical conflicts have also triggered a flight to safety for funds. On the fundamentals side, low silver inventory levels have provided inventory-related support for silver prices. A series of factors, including the current historically high gold-silver ratio, the need for the ratio to correct, and the influx of bullish funds into the market, have all supported the rise in silver prices. As of around 11:02 on June 6, COMEX gold rose 0.38% to $3,387.8 per ounce; COMEX silver rose 1.236% to $36.245 per ounce, with COMEX silver hitting a new historical high of $36.27 per ounce since September 2011 on June 5; the main SHFE gold contract fell 0.22% to 782.62 yuan/g; the main SHFE silver contract rose 3.93% to 8,803 yuan/kg, hitting a new historical high since listing of 8,834 yuan/kg; silver T+D rose 3.89% to 8,776 yuan/kg.

Every year from June to August marks the conventional maintenance season for primary lead smelters. Most enterprises will halt equipment operations by mid-June, with production expected to significantly decrease in late June. After the maintenance, anode slime raw material inventory will gradually decrease, and precious metal production will enter the maintenance phase by month-end June. Therefore, silver production at some manufacturers may slightly decline in June, but the decline in silver production at lead smelters will mainly occur in July.