On December 1, China’s commodity market showed a pattern of structural growth. Among the 607 commodities tracked by Baijia Yingfu, 167 recorded price increases, accounting for 27.5% – an increase of 45 commodities compared with the previous trading day. Silver prices stood out with remarkable gains: the average spot price of Grade 1 silver reached 13,485 yuan per kilogram, rising by 846 yuan in a single day with a growth rate of 6.69%. The main Shanghai silver futures contract surged by 7.43%, firmly standing above the 13,400 yuan per kilogram mark.

The sustained strength of gold and silver prices is supported by both the macroeconomic environment and expectations of monetary policy. Against the backdrop of anticipated economic slowdown, the safe-haven attribute of precious metals has become increasingly prominent. Besides silver, tin prices also hit a three-year high: the average domestic price of Grade 1 tin ingots rose by 8,200 yuan to 308,200 yuan per ton, while London tin prices increased by 3.63% overnight. However, high prices have suppressed demand – spot tin trading remained extremely sluggish, as traders were active in quoting but downstream buyers showed insufficient willingness to take delivery.

The rare earth industry chain also performed actively: the price of praseodymium-neodymium metal climbed to 725,000-735,000 yuan per ton, and the mainstream quotation of NdFeB N35 was raised to 145-150 yuan per kilogram. Rising raw material prices have provided solid cost support. Meanwhile, some chemical products witnessed price corrections – the average market price of ethylene oxide dropped by 220 yuan to 5,780 yuan per ton, a decrease of 3.67%. The bearish supply-demand pattern has led to increased shipment pressure in some regions.