The impact of the epidemic on silver supply is limited. Silver nitrate price rises within a narrow range [SMM Daily Review]

SMM4 March 1: the price of pure silver nitrate is 3249-3290 yuan / kg. According to SMM research, although the epidemic in Shanghai affects transportation and warehouse shipments, it does not have much impact on the supply of silver. The reasons are as follows: 1. Some downstream manufacturers prepare silver reserves in advance for the epidemic. 2. Silver supply and supplementary demand in other regions, so there is no obvious gap between supply and demand, and the silver spot trading market is stable. The average price of SMM1# silver today is 5006 yuan / kg, up 15 yuan / kg or 0.3% from yesterday. Silver routinely fluctuates narrowly upwards, and the price of silver nitrate is slightly higher than yesterday's 0-3 yuan / kg. Russia and Ukraine will hold video negotiations on April 1, and silver prices are expected to fluctuate or fall around 5000.