China’s Record Amount of Silver Continues

Last month, we wrote once again about China’s recent determination to add silver to its aggressive acquisition of gold. The trend is sizable and important enough that we are republishing the chart we ran then and adding to the story. Here is that article in case you missed it.

As reported, China’s silver imports surged 78 percent in March over the prior month, to a record 836 tons, almost 27 million troy ounces.

So far this year China has imported 1,626 tons of silver.  That is more than 52 million troy ounces – the highest on record.

Nomi Prins, economist and financial journalist, writes that even though silver is down sharply from its peak at the beginning of the year, the actual physical market is tightening.

Please read the following paragraph carefully:

Beijing is rolling out new export restrictions that limit refined silver shipments to a handful of state-approved firms holding special government licenses. That means two things are happening at once. The world’s largest buyer of silver is now buying more silver than ever, and the world’s largest processor of silver is making it harder for that metal to leave the country.

That tells us that China is just as determined to build its silver base as it is its gold.

Note, as well, the growing silver deficit chart provided by the Silver Institute showing  cumulative shortages since 2021.

Prins:

What all of this means is that six years of deficits have drawn down above ground inventories. China’s import numbers confirm what the inventory numbers already show. The world needs more silver than it has access to.

This is not a short-term trade driven by flashing headlines or fleeting market trends. What’s unfolding is a structural imbalance between physical supply and real demand – and it’s still building.

China’s appetite for silver makes it a leading dynamic to drive the next leg of the silver bull market.

It’s time to find out why silver deserves a place in your financial and personal protection portfolio. Republic Monetary Exchange can help you devise a sensible plan for the times.