A股6月开门红 白银供给短缺价格飙涨

Market Overview - A-shares opened positively in the first trading week of June, with the Shanghai Composite Index approaching 3400 points and the Shenzhen Component Index showing support near 10,000 points [1] - The ChiNext Index stabilized above the 2000-point mark [1] - Margin trading saw a net purchase of over 10.2 billion yuan, with a total margin balance of 1.8 trillion yuan, marking a new high in nearly two weeks [1] Sector Performance - The pharmaceutical and biotechnology sector received over 2.4 billion yuan in net purchases, while the computer, automotive, and machinery equipment sectors each saw net purchases exceeding 1 billion yuan [1] - Non-bank financials experienced a net sell-off of over 1.1 billion yuan, with slight net selling in electronics, agriculture, forestry, animal husbandry, and communications sectors [1] - Major funds saw a net inflow of over 10 billion yuan in sectors like pharmaceuticals, computers, basic chemicals, and non-ferrous metals, while the automotive sector faced a net outflow exceeding 2.9 billion yuan [1] Precious Metals Market - International silver prices surged recently, reaching a 13-year high, with domestic silver futures also breaking multiple key levels, closing at 8855 yuan per kilogram [2] - The gold-silver ratio has risen to approximately 1:100, significantly above the historical average, indicating a high probability of silver price increases when the ratio exceeds 1:80 [2] - The photovoltaic industry has become a key driver of silver demand, with industrial silver usage exceeding 40%, and the transition to N-type batteries increasing silver consumption by 40%-100% per unit [2] Supply and Demand Dynamics - Global silver supply is expected to maintain a long-term shortage due to stagnant primary mineral growth and the accelerated penetration of N-type batteries [3] - The total global silver supply is projected to reach 31,700 tons in 2024, with a demand of 36,700 tons, resulting in a supply-demand gap of approximately 5,000 tons [2]