Silver prices rose slightly on May 7 [SMM Daily Review]

On May 7, the price of domestic silver began to rise. The silver prices opened at $27.427 per ounce. SMM 1# silver prices opened at 7,098 yuan/kg, with average prices up 83 yuan/kg compared with yesterday, an increase of 1.2%. According to SMM, the premium of spot silver meeting national standard under large-volume orders in Shanghai was 2-3 yuan/kg with cash payment, and the premium of spot silver under large-volume orders from large producers was 4-5 yuan/kg with cash payment. The price of top-end products was even higher. The market was mainly based on rigid purchases.