SMM

The API crude oil inventory in the United States for the week to March 22 was announced at 9.337 million barrels, higher than the previous value of 1.519 million barrels and the expected value of -1 million barrels. This is negative for silver. The price of silver fell slightly yesterday, and the opening price of spot silver was US$24.4/ounce, the average ex-factory reference price of SMM #1 silver in the morning was 6296 yuan/kg, and the average price dropped by 51 yuan/kg from the previous day, a decrease of 0.8%. According to SMM, the premiums for national standard silver ingots in large quantities in Shanghai were zero, and warehouse receipts were traded with premiums. The market shipments stabilized and trading was quiet