Shanghai/Asia physical surges—silver inventories decade lows 350t/China hoard defies West rout
Key Questions
What are Shanghai silver inventories at?
Shanghai silver stocks hit decade lows of 350t, with 790t imports and vaults at 650t. This reflects record China drains from COMEX/LBMA.
Why is Shanghai silver at a premium to NY?
Shanghai trades at $75 with 13-15% premium vs NY due to physical tightness. China hoarding defies Western routs amid solar/EV/AI demand.
What drives China's silver demand?
Structural demand from solar, EV, AI, and coins up 60% fuels hoarding. Physical tightness signals bullish repricing per analysts.
How is physical tightness affecting silver?
Decade-low inventories and premiums indicate supply squeeze. China policy changes and buying spur 7% jumps.
Why is silver running short in China?
China is buying up the market for industrial uses, draining global stocks. First Majestic notes this as key bullish signal for 2026.
Shanghai silver 350t lows/$75 prem13-15% vs NY/790t imports/vaults650t/solar/EV/AI/coins+60%/China record drains COMEX/LBMA structural demand.