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Glonghui April 1st｜Silvercorp Metals (SVM.US) continued to rise 2.51% in pre-market trading, reaching $11.01; the stock opened higher and trended upwards in the previous US session, ultimately closing up 7.08%. Benefiting from the surge in precious metal prices, Silvercorp Metals has risen about 180% cumulatively in 2025. On January 26th this year, it hit a new all-time high intraday at $14, rising about 68% year-to-date and soaring approximately 3.69 times since the beginning of 2025. In the short term, impacted by the macro environment, the stock briefly retreated to the 120-day moving average before surging again. As of yesterday’s close, it had rebounded over 13%.On the news front, there are signs of easing geopolitical tensions in the Middle East. US President Trump stated that the United States might end military operations against Iran in two to three weeks. Iranian President Pezeshkian stated that Iran has a “necessary willingness to end the war,” but needs guarantees to “prevent further aggression.” This news triggered a short-term rally in gold and silver, with spot gold breaking through $4,710/oz, reaching this level for the first time in nearly two weeks; spot silver also returned above $75/oz.According to one exchange, the recent drop in gold has been “clearly an overcorrection.” Supported by continued buying by central banks and expectations that the Federal Reserve will cut rates two more times this year, the medium-term outlook for gold remains solid, with gold prices likely to climb to $5,400/oz by the end of the year. Jeff Kilburg, CEO of KKM Financial, believes that if the United States can reach an agreement with Iran soon and ensure the reopening of the Strait of Hormuz, silver could rebound to around $90 to $100 per ounce.

```htmlGolden Ten Data reported on April 1 that Laura Cooper from Nuveen stated in her report that global markets may face prolonged pressure due to supply chain disruptions caused by war in the Middle East. This assessment was made in the context of Trump’s statement that the US will withdraw from Iran within two to three weeks. Cooper pointed out that energy supply shocks are spreading to other commodity sectors such as metals and fertilizers. “Although ceasefire negotiations may boost short-term market sentiment and ease oil prices, a more prudent strategy is to prepare for the persistence of the shock rather than its resolution.”```

Golden Ten Data reported on April 1 that Tangshan Port announced it expects to handle a total cargo throughput of 60.2211 million tons from January to March 2026, an increase of 5.23% year-on-year. This includes 34.7138 million tons of ore, 3.7057 million tons of steel, 13.6315 million tons of coal, and 8.1701 million tons of other cargo types.