Archive · 15 Dec 2025
China's Silver Export Curb to Impact Global Market
China has announced a new policy that will require companies to get licenses to export silver starting in 2026.
This policy is expected to make it harder for smaller companies to export silver, which could make the global silver market even tighter.
India has been importing a lot of silver recently, which shows that there is high demand for it.
JP Morgan, a big financial company, has been buying a lot of physical silver and closing its short positions.
All of these factors are making the price of silver go up.
Silver has already increased a lot in price this year, and experts think it could go up even more because of these changes.
China's new policy requires licenses for silver exports from 2026, impacting global supply.
India imported over 2,600 tonnes of silver in September-October, indicating high demand.
JP Morgan closed 200 million ounces of silver short positions and accumulated 750 million ounces of physical silver.
Global silver deficit projected to widen to 5,000-plus tonnes per year due to reduced Chinese exports.
Silver prices surged by 115% this year, ending at $62 per ounce and ₹1,92,615 per kg in India.
- Who
- China, India, JP Morgan, global silver market participants
- What
- China's new policy requiring licenses for silver exports, impacting global supply and prices
- When
- Policy effective from January 2026, with significant developments in 2025
- Where
- Global, with focus on China, India, and major silver suppliers like the UK and Hong Kong
- Why
- To protect national resources, potentially influence global prices, and leverage geopolitical positioning
- China's Silver Export Policy
- Requires licenses for exports, effective 2026-2027
- India's Silver Imports
- 2,600 tonnes in September-October, 1,715 tonnes in October alone
- Global Silver Deficit
- Projected to widen to 5,000-plus tonnes per year
- JP Morgan's Silver Positions
- Closed 200 million ounces short, accumulated 750 million ounces physical
- Silver Price Surge
- 115% increase this year, ending at $62 per ounce and ₹1,92,615 per kg in India
- Major Silver Suppliers to India
- UK (1,000 tonnes), Hong Kong (880 tonnes), Switzerland (225 tonnes), UAE (140 tonnes)
Sources
Silver may soar further as China curbs exports from January 1
China plans steel export licences to curb record shipments and ease oversupply
Silver prices jump after hitting record high last week - Is ₹2,40,000 the next stop?