Group 1: Market Dynamics - On December 29, 2025, the London silver spot price experienced extreme volatility, soaring over 6% to a historic high of $83.97 per ounce before plummeting to a low of $70.49, resulting in a daily fluctuation of 17% [1][3] - The Chicago Mercantile Exchange (CME) raised margin requirements for silver futures on December 26, which contributed to the speculative frenzy and subsequent market correction [2][4] - Silver volatility exceeded 80%, indicating a significant increase in price risk, driven by the CME's decision to raise margin requirements [4] Group 2: Industry Impact - Companies in the silver supply chain, such as photovoltaic silver paste manufacturers, are facing challenges in managing production costs due to the unpredictable price fluctuations of silver [1][11] - Mining and refining companies, like Zijin Mining, are assessing how to leverage the current high market conditions while managing the risks associated with price volatility [8][9] - Midstream processing and trading firms, such as Hengbang Co., are concerned about the impact of price swings on their processing margins, prompting them to negotiate fixed-price contracts with suppliers and customers [9][10] Group 3: Investor Behavior - Investors have begun to exit the silver market, with significant net outflows from the iShares Silver Trust (SLV) during the week of the price drop, indicating a shift in sentiment [5] - The stock prices of companies in the silver sector, including mining and processing firms, have reacted negatively to the price volatility, reflecting investor concerns about profitability stability [5][6] Group 4: Future Outlook - Analysts predict that the extreme volatility in the silver market may become a norm in the near future, with potential price corrections expected in the first half of 2026 [16][17] - Companies are advised to adopt more flexible supply chain management strategies to mitigate risks associated with price fluctuations, including diversifying technologies and securing long-term contracts [17]
白银上演惊魂一跳 产业链紧急“压力测试”
Jing Ji Guan Cha Wang·2025-12-31 10:21