Silver prices remained rangebound on January 31 [SMM Daily Comment]

The silver prices opened at $23.143 per ounce on January 31. The average ex-factory price SMM 1# silver in the morning session stood at 5945 yuan/kg, down 5 yuan/kg or 0.08% compared with the previous day. According to SMM, premium for large-volume national standard silver ingots in Shanghai was 2-3 yuan/kg, and the quotation of large-volume large-scale silver ingots was 4-5 yuan/kg. The market made shipments aggressively, but the market purchasing was poor. Trading was cool.