Silver Market 260615

Jun 15 Silver Market Morning Snapshot​

SFE Futures ? (no report this morning)
SGE Spot ? (no report this morning)
MCX Futures $71.85
COMEX Jun26 Futures $67.15 ($0.07 LBMA Spot @ last quote Jun 12)
LBMA Spot $70.68
IBJA Spot $70.22 (~$0.46 LBMA Spot)

Quotestaxes/duties

SFE465K
SFE 5 DMA run rate 50d

LBMA Spot ​

Last night silver jumped from ~$68 to ~$70 on an USA-Iran peace deal announcement and is running ~$70.60 this morning.

EFP Spreads (ET)​

Spot price @ 07:04 : $70.68

Jun26 = +$0.07 vs -$0.02 Previously (spot @ 15:00 July 12 : $67.79)
Jul26 = +$0.02 vs +$0.20
Aug26 = +$0.31 vs +$0.32 (spot @ 06:48 : $70.77)

EFP Commentary​

Jun26 EFP spread stays within a few cents of zero. The July EFP spread collapsed this morning!

India ​

MMTC-PAMP (retail) : $89.41 (less 18.45% taxes (IGST*(CIF+BCD+AIDC)) = $72.91)
MCX Jun26 [SILVERM 5kg] : $84.53 (less 15% BCD+AISD = $71.85)
MCX Jul26 [SILVER 30kg] : $83.36
IBJA PM spot : $82.62 (less 15% BCD+AISD = $70.22)

The IBJA-LBMA spot premium flips to a discount this morning.

SFE Run Rate​

465K ozt (14.5t)
Remaining Vault Stock = 28,022,750 ozt

Withdraw rate through last 5 days = 561K/day (from 557K/day)

Run rate = 28M / 561K = ~50 (working) days(~2.5 months)

A 465K outflow replaces a 444K outflow in the 5 DMA window and the withdrawal rate grows slightly.

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Previous report: https://www.pmbug.com/threads/silver-market-260613.9026/