SHANGHAI, July 12 (SMM) - As the silver nitrate is mainly produced on-demand, the reduction in orders amid the off-season in June has led to the reduction in output. According to SMM, the output of silver nitrate in June was 515 mt, a decrease of 7.2% on the month.
As some downstream enterprises stockpiled a lot of silver nitrate in May, the procurement in June was less active. Only some silver powder manufacturers purchased as needed.
Throughout June, the overall silver prices declined on the month due to the Fed raising interest rates. Except for silver powder, other downstream customers held a more bearish attitude towards silver prices. At the same time, as some downstream enterprises stockpiled a lot of silver nitrate in May, the enthusiasm for purchasing declined amid the wait-and-see sentiment. Silver paste production was under the technical adjustment in the second half of the year. In order to prevent the mismatch of products before and after, silver powder purchased in small quantities. Therefore, the orders and the output of silver paste declined.
It is expected that the output in July will be flat on the month amid the off-season in July and August.
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