中国市场仍挤压白银供应 COMEX银激战92/64美元关键位

Core Viewpoint - Silver prices are experiencing upward pressure due to ongoing consumption in China's investment and industrial sectors, leading to a tight supply situation and significant premiums in the spot market [3]. Group 1: Market Dynamics - March silver futures rose by $3.121 to $83.505 per ounce during the Asian trading session on February 12 [1]. - Despite recent price volatility, silver's price fluctuations have narrowed, indicating a more stable market environment [3]. - Domestic producers and traders are facing significant challenges in fulfilling backlogged orders, which has contributed to rising prices and a situation where spot prices exceed futures prices [3]. Group 2: Supply and Demand Factors - The current tight supply of silver is attributed to ongoing inventory depletion and a severe shortage of deliverable silver, prompting institutions to continue exerting pressure on the market for profit [3]. - The Shanghai Futures Exchange has seen recent contracts trading at record premiums, reflecting strong market preference for physical delivery [3]. - Short sellers in the Shanghai Gold Exchange have been paying carry costs to long positions since late December to avoid delivery, highlighting the scarcity of available silver for settlement [3]. Group 3: Price Resistance and Support Levels - The bullish target for March silver futures is to successfully break above the strong resistance level of $92.015, while the bearish target is to drop below the strong support level of $63.90 [4]. - Key resistance levels are identified at $86.12 and $87.50, while the first support level is at $80.41, followed by $80.00 [4].