Silver market report December 2012
2013-01-10 17:35:54 【Print】
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Contents
ABSTRACT 1
1 FINANCIAL OVERVIEW 1
1.1 CHINESE DOMESTIC FINANCIAL OVERVIEW 1
1.1.1 November CPI up 2.0%, PPI down 2.2% year on year 1
1.1.2 Chinese PMI stable in December 2
1.2 INTERNATIONAL FINANCIAL OVERVIEW 3
1.2.1 Futures prices of international crude oil rebounds in December 3
1.2.2 European debt crisis turns the corner US financial crisis drags down US dollar index 4
1.2.3 2013 will be a tough year for nonferrous metals 5
2 COMPANY NEWS 6
3 CHINESE DOMESTIC MARKET REVIEWS 7
3.1 SILVER PRICE DOWN BY 10% MOM IN DECEMBER 7
4 INTERNATIONAL MARKET REVIEW 8
4.1 WORRY SENTIMENT HOLD THE MARKET LME SILVER ON DOWNTREND 8
4.2 GOLD ETF INVENTORY DROPS AND SILVER ETF INVENTORY INCREASES 9
5 PRODUCTION DATA 10
5.1 CHINESE MAJOR SILVER SMELTERS’ PRODUCTION IS 820T IN DECEMBER 10
6 IMPORT & EXPORT DATA ANALYSIS 11
6.1 CHINESE SILVER IMPORT DOWN BY 3.9% IN NOVEMBER MOM 11
6.2 CHINESE SILVER NITRATE IMPORT DOWN BY 73.8% IN NOVEMBER MOM 12
6.3 CHINESE SILVER ORE AND CONCENTRATE IMPORT DOWN BY 64.5% MOM 12
7 RELATED INDUSTRY DEVELOPMENTS 13
7.1 NEW CONSUMPTION MARKET IMMATURE SILVER NITRATE BUYERS’ MARKET SLUGGISH 13
7.2 SILVER NITRATE SUPPLY SHORT OF DEMAND IN CHINESE SPOT MARKET 13
8 OUTLOOKS FOR JANUARY 13
Picture
Figure 1 CPI and PPI in China in 2011-2012 2
Figure 2 Chinese manufacturing PMI in 2011-2012 3
Figure 3 futures prices of key contracts of American crude oil in December 4
Figure 4 Trend of US dollar index 5
Figure 5 Silver prices in December 2012 8
Figure 6 Loco London Silver trend in December 9
Figure 7 Gold inventory of 8 main ETFs in global 9
Figure 8 Silver inventory of iShare Silver trust 10
Figure 9 Chinese silver production in Oct to Dec 2012 11
ABSTRACT 1
1 FINANCIAL OVERVIEW 1
1.1 CHINESE DOMESTIC FINANCIAL OVERVIEW 1
1.1.1 November CPI up 2.0%, PPI down 2.2% year on year 1
1.1.2 Chinese PMI stable in December 2
1.2 INTERNATIONAL FINANCIAL OVERVIEW 3
1.2.1 Futures prices of international crude oil rebounds in December 3
1.2.2 European debt crisis turns the corner US financial crisis drags down US dollar index 4
1.2.3 2013 will be a tough year for nonferrous metals 5
2 COMPANY NEWS 6
3 CHINESE DOMESTIC MARKET REVIEWS 7
3.1 SILVER PRICE DOWN BY 10% MOM IN DECEMBER 7
4 INTERNATIONAL MARKET REVIEW 8
4.1 WORRY SENTIMENT HOLD THE MARKET LME SILVER ON DOWNTREND 8
4.2 GOLD ETF INVENTORY DROPS AND SILVER ETF INVENTORY INCREASES 9
5 PRODUCTION DATA 10
5.1 CHINESE MAJOR SILVER SMELTERS’ PRODUCTION IS 820T IN DECEMBER 10
6 IMPORT & EXPORT DATA ANALYSIS 11
6.1 CHINESE SILVER IMPORT DOWN BY 3.9% IN NOVEMBER MOM 11
6.2 CHINESE SILVER NITRATE IMPORT DOWN BY 73.8% IN NOVEMBER MOM 12
6.3 CHINESE SILVER ORE AND CONCENTRATE IMPORT DOWN BY 64.5% MOM 12
7 RELATED INDUSTRY DEVELOPMENTS 13
7.1 NEW CONSUMPTION MARKET IMMATURE SILVER NITRATE BUYERS’ MARKET SLUGGISH 13
7.2 SILVER NITRATE SUPPLY SHORT OF DEMAND IN CHINESE SPOT MARKET 13
8 OUTLOOKS FOR JANUARY 13
Picture
Figure 1 CPI and PPI in China in 2011-2012 2
Figure 2 Chinese manufacturing PMI in 2011-2012 3
Figure 3 futures prices of key contracts of American crude oil in December 4
Figure 4 Trend of US dollar index 5
Figure 5 Silver prices in December 2012 8
Figure 6 Loco London Silver trend in December 9
Figure 7 Gold inventory of 8 main ETFs in global 9
Figure 8 Silver inventory of iShare Silver trust 10
Figure 9 Chinese silver production in Oct to Dec 2012 11
