Silver Market 260530

May 30 Silver Vaults (ozt)​

PSLV
SLV1.9M
COMEX1K

COMEX withdrawals finish the month at ~39% of May26 delivery requests
COMEX [R] run rate
COMEX [E] run rate
SFE run rate 494d (as of May 29)
SGE run rate (as of May 22)

COMEX 5-28​

ozt

1K ozt (0.03t) from Delaware

30K ozt (0.9t) moved from [E] to [R] in Delaware

COMEX Run Rates​

Remaining Vault Stock = 316.5M ozt (84.1M [R], 232.4M [E])

Net "withdraw" rate through last 5 days = 368K/day DEPOSIT

@ 52% [R], run rate =

@ 100% [E], run rate upper bound =

@ 100% [E], run rate lower bound =

@ 100% [E] run rate mid point/avg =

COMEX May26​

May26 contract cumulative deliveries = 6,414
May26 contract equivalent ozt = 32,070,000
Actual withdrawals in May ozt = 12,633,194.49

May withdrawals finish the month at ~39% of May26 delivery requests. See here for historical context.

COMEX Commentary​

Thursday's 1K ozt net withdrawal comes as a 1.2M drain rolls out of the 5 DMA window so the net deposit rate grew significantly.
Someone actually withdrew a single LGD silver bar from the Delaware vault. lol.

SLV Share Lending​

chartexchange.com is throwing 504 gateway time out errors on the borrowing fee page. No report today.

SLV Assets​

Blackrock:2.1M shares
JPM:1.9M ozt (59.1t)
ozt/units ratio 0.9051

1mo lease rate started rising and SLV jumps into action to support the LBMA with a huge release of vault stock. It's also the end of the month, so this could be indicative of "painting the tape" for LBMA vault stock reporting. If that is correct, we should see a large inflow of vault stock early in June (next week).

PSLV​

units
ozt
ozt/units ratio 0.34112

PSLV being quiet like a ninja (again).

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Previous report: https://www.pmbug.com/threads/silver-market-260529.8969/