Silver Market 260601

Jun 1 Silver Market Morning Snapshot​

SGE Spot $83.50 (~$8 LBMA Spot)
SFE Futures $83.48
COMEX Jun26 Futures $75.59 ($0.02 LBMA Spot)
LBMA Spot $75.93
MCX Futures $75.65
IBJA PM Spot $73.33 (~$2 LBMA Spot)

Quotestaxes/duties

LBMA Spot ​

Last night silver plunged at open from just above $75 to just below $74, then recoverd higher to ~$75.50 and slowly bobbed its way up to ~$75.70 this morning.

EFP Spreads (ET)​

Spot price @ 06:24 : $75.93

Jun26 = +$0.02 vs +$0.03 Previously (spot @ 22:00 May 31 : $75.57)
Jul26 = +$0.24 vs +$0.28
Aug26 = +$0.57 vs +$0.52 (spot @ 03:18 : $75.81)

EFP Commentary​

Jun26 EFP spread holds at slightly positive as of the last quote.

India ​

MMTC-PAMP (retail) : $93.16 (less 18.45% taxes (IGST*(CIF+BCD+AIDC)) = $75.97)
MCX Jun26 [SILVERM 5kg] : $89.00 (less 15% BCD+AISD = $75.65)
MCX Jul26 [SILVER 30kg] : $87.53
IBJA PM spot : $86.27 (less 15% BCD+AISD = $73.33)

China ​

SGE $83.50(no VAT)
SFE $83.48

SGE premium to LBMA spot = ~$8
SFE "premium" to SGE = -$0.02

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Jun 1 Silver Vaults (ozt)​

SGE2.3M
SFE655K

SFE run rate 153d
SGE run rate (as of May 29)

SFE Run Rate​

655K ozt (20.4t)
Remaining Vault Stock = 30,752,740 ozt

Withdraw rate through last 5 days = 201K/day

Run rate = 30.8M / 201K = ~153 (working) days(~8 months)

With the largest one day outflow since April 1st, SFE's 5 DMA withdrawal rate grows significantly.

SGE Run Rate​

2.3M ozt (72.5t)
Remaining Vault Stock = 29,171,980 ozt

"Withdraw" rate through last 5 weeks = 2.5M/week(same as last week) deposit!

Run rate =

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Previous report: https://www.pmbug.com/threads/silver-market-260530.8972/