Silver market report November 2013

Contents
Abstract 1
1 Financial review 1
1.1 Domestic financial review 1
1.1.Asian Metal Copyright5% MOM 8 6 Import Export data analysis 9 6.Asian Metal Copyright1 CPI up 3.Asian Metal Copyright1 Chinese silver import down by 5.Asian Metal Copyright2%, PPI down 1.5% YOY in Oct 1
1.1.2 PMI positively stable in November 2
1.2 International financial review 3
1.2.1 Iran nuclear crisis relieves, crude oil prices fall back 3
1.2.2 Weaker Euro strengthens US dollar index 4
2 Company news 5
3 Chinese domestic market reviews 6
3.1 Silver price keeps going down and trading inactive 6
3.2 Silver trading among traders cool down 6
4 International Market review 7
4.1 Bullion prices go down on strong US dollar and stocks 7
4.2 Pessimistic cover bullion market gold ETFs drops 7
5 Production data 8
5.1 Chinese major silver smelters’ production in November down by 0.5% MOM 8
6 Import & Export data analysis 9
6.1 Chinese silver import down by 5.05% MOM in October 9
6.2 Chinese palladium import up by 2.6% MOM in October 10
6.3 Chinese silver powder import up by 2.7% MOM in October 11
6.4 Chinese platinum import down by 26.84% MOM in October 12
6.5 Chinese silver ore and concentrate import down by 52.86% MOM in October 12
7 Related industry developments 13
7.1 New consumption market immature Silver nitrate buyers’ market sluggish 13
7.2 Silver smelters operate normal with enough anode mud supply 13
7.3 Palladium consolidate at high level and sales recover 13
8 Outlooks for December 14
Picture
Picture 1 China’s CPI and PPI in 2011-2013 2
Picture 2 China’s manufacturing PMI in 2011-2013 3
Picture 3 Main contracts prices of crude oil futures in US in October 4
Picture 4 US dollar index 4
Picture 5 Silver prices in November 2013 6
Picture 6 Loco London Silver trend in November 7
Picture 7 Gold inventory of 8 main ETFs in global 8
Picture 8 Silver inventory of iShare Silver trust 8
Picture 9 Silver production of main smelters in China November 2013 9
Picture 10 Silver import and export in the first ten months of 2013 10
Picture 11 Palladium import in the first ten months of 2013 11
Picture 12 Silver powder import in the first ten months of 2013 12
Picture 13 Chinese silver ore and concentrate import in the first ten months of 2013 13
Picture 14 Palladium powder 99.95% prices in November 2013 14

.Asian Metal Copyright1 New consumption market immature Silver nitrate buyers’ market sluggish 13 7Asian Metal Copyright