Latest Update in the SMM Other Precious Metals Market

Domestic Silver Nitrate Capacity Expansion Released as Scheduled, Processing Fees Negotiated Again [SMM Analysis] According to SMM, the surge in domestic silver nitrate capacity expansion was driven by the demand for PV silver powder and silver paste. Since 2024, with new production lines from proactive silver nitrate producers coming into operation, suppliers generally mentioned cut-throat competition, experiencing negotiations for lower processing fees on a quarterly or monthly basis with customers.

[Trump Invokes War Powers to Boost Production of Rare Earths and Other Critical Minerals, Accelerating Project Launches and Financing] During his first term, Trump used executive actions to ease production controls, driving up US oil and gas production. Now, it seems he is preparing to take similar measures in the mining sector, particularly for rare earths. On Thursday, Trump signed an executive order invoking a wartime power to mobilize and expand domestic production of critical minerals. By citing the Defense Production Act from the Truman era, the US president can mobilize the domestic industrial base to provide materials deemed essential for national defense.

SMM Silver Market Weekly Review: US Fed Interest Rate Decision in Line with Expectations, Silver Jumps Initially and Then Pulls Back This Week The US Fed decided to keep interest rates unchanged for the second time as of March 19, and market expectations for future interest rate cuts remain high. This week, after COMEX silver futures broke through the key resistance level of $34 per ounce, longs took profits, leading to a slight correction. Domestic silver prices also experienced a jump initially and then pulled back.

SMM Daily Review: Silver Prices Edge Lower, Spot Premiums/Discounts Stabilize with Slight Increase According to SMM, in the Shanghai area today, spot standard silver ingots were quoted at a discount of 1 to 0 yuan/kg against TD or at a discount of 2 to 0 yuan/kg against SHFE silver contract 2504.

Founders Metals Inc. announced that the initial drilling results from the recently discovered high-grade Van Gogh deposit at its Antino gold mine project in southeastern Suriname were positive. The VG00 hole of the Van Gogh deposit intersected 72 meters of ore at a depth of 177 meters, with a gold grade of 2.29 grams per mt, and the gold ore body extends approximately 200 meters deep vertically from the surface.

[Progress on Projects Including the Korsnas Rare Earth Mine in Finland] The scale of high-grade rare earth ore bodies at Prospech's Korsnas project in Finland has expanded, with multiple mineralized zones showing total rare earth oxide (TREO) grades above 1%, reaching as high as 4%, with a higher content of heavy rare earth oxides: 61.3 ppm terbium and 234 ppm dysprosium. Cygnus Metals made new progress in drilling at its Chibougamau project in Canada.

[High-Grade Ore Found in Drilling at Valeriano Copper-Gold Mine in Chile] According to Mining.com, ATEX Resources Inc. announced that drilling at the Valeriano copper-gold mine in Chile's Atacama Region encountered ore with a copper grade as high as 2.2%, the highest grade found so far at this porphyry copper deposit.