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SMM Silver Flash: Nitrate Production Down 17% in May, PV Sector Orders Weak in June

Published: Jun 3, 2025 13:41
[SMM Silver Market Flash] In May 2025, silver nitrate production decreased by 17% MoM, with the capacity utilisation rate of most enterprises falling short of expectations. Entering June, orders in the PV sector are expected to remain weak, with some enterprises indicating that they have already entered the off-season. The operating rate is expected to remain below 50% in the short term, and silver nitrate production is anticipated to continue declining in June.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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