China’s silver imports set to jump as solar demand lifts prices
May 29, 2024
Source: Mining.com
China’s silver imports set to jump as solar demand lifts prices
Bloomberg News | May 29, 2024 | 7:28 am
Chinese silver imports could surge in coming weeks, as traders take advantage of a jump in demand that’s taken prices well above the international market.
Silver’s in a sweet spot because of its dual uses as an industrial metal and a financial asset. It’s an important material in solar panels, which China continues to build in vast quantities, and it’s also a cheaper alternative to gold, which is setting its own records on price led by Chinese demand.
Although silver prices rose to an 11-year high last week, the arbitrage window — or the spread between Chinese and world prices — has widened even further. That creates the incentive to send more metal to China, potentially squeezing supply for other countries.
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