China’s silver imports surged to 790 tons in the first two months of 2026, including a record 470 tons in February. Driven by industrial demand from solar manufacturers and strong retail investment, the buying spree has lifted local prices above global benchmarks, straining already-low exchange stockpiles worldwide.
Bloomberg and Mining.com report that China’s ravenous appetite for silver has reshaped global market dynamics. Imports hit an eight-year high, with speculative buying causing prices to spike nearly 70% before correcting. Falling inventories in Chinese exchanges have amplified volatility, raising concerns about long-term supply deficits.
Market Drivers
• Industrial demand from solar panel manufacturers
• Strong retail investor appetite for physical silver bars
• Exchange inventories in China falling sharply
• Local silver prices trading above international benchmarks
• Global supply deficit entering sixth consecutive year
Impact On Global Markets
China’s aggressive imports are tightening global supply chains, pushing silver into structural scarcity. Analysts warn that continued demand could keep prices volatile, with implications for industries reliant on silver, including electronics, renewable energy, and investment markets.
Key Highlights
• China imported 790 tons of silver in Jan–Feb 2026
• February imports hit record 470 tons
• Prices surged 70% before correcting in late January
• Local prices above global benchmarks due to demand
• Global silver market faces sixth consecutive year of deficit
Sources: Bloomberg, Mining.com, MarketMinute