Overview
- The rules take effect January 1 and also apply to tungsten and antimony, with 44 Chinese companies cleared to ship silver in 2026–27.
- Approved exporters must show shipments in each year from 2022 to 2024, while new applicants need annual production above 80 tonnes.
- The licensing system replaces a quota regime in place since 2000, a shift analysts say will constrict overseas supply.
- Prices have whipsawed after a yearlong surge that briefly pushed spot silver above $80 an ounce, and buyers are paying premiums for physical metal.
- China exported more than 4,600 tonnes in the first 11 months of 2025, as the U.S. labeled silver a critical mineral and European businesses reported knock-on effects.