Asian Metal visits Yongxing Zhaojin, Xinda Silver Industry, Jingui Silver Industry and Jinwang Bismuth

On December 26-27 2013, Sue Bi, analyst of silver from Asian Metal visited Yongxing Zhaojin Precious Metals Processing & Fabrication Co,. Ltd, Hunan Xinda Silver Industry Co., Ltd, Chenzhou Jingui Silver Industry Co., Ltd and Hunan Jinwang Bismuth Industrial Co., Ltd.

On the morning of December 26, Sue visited Yongxing Zhaojin Precious Metals Processing & Fabrication Co., Ltd and talked with Lv Yunsong, marketing manager of the company. He shared the opinion of silver market with Sue and thought it is hard to turn warmer for silver market in a short time. Additionally, silver price dropped sharply in 2013 and many silver smelters suffered losses. Many small-sized crude silver smelters cut or quit production last year and Yongxing Zhaojin’s silver production also decreased to 210-220t in 2013 from 300t in 2012.

Then Sue visited Hunan Xinda Silver Industry Co., Ltd and met with Cao Can, the manager of silver refinery. Mr. Cao showed Sue around the refinery and introduced the refining process of silver. Mr. Cao said that due to the fluctuating prices and the environmental problems, many crude silver smelters suspended production and the processing volume of Xinda Silver Industry declined apparently. The total processing volume was about 350t in 2013 while the figure was 400t in 2012.

On the afternoon of December 26, Sue visited Chenzhou Jingui Silver Industry Co., Ltd and talked with Liao Shuhong, manager of sales department. He talked about silver market with Sue and thought silver ingot 99.99%min price will not drop significantly from RMB4,000/kg and silver price might rebound as demand for gold is expected to warm up before Spring Festival. The company maintained about 50t of silver ingot per month in 2013 and exported about half of their production to overseas market.

On the evening of December 26, Sue attended Jinwang Bismuth Industrial’s Return Banquet in Chenzhou. On the morning of December 27, Sue visited the central workshop of Jinwang in Xianxi and Chenzhou Baoshan Mine Park.