🥈 Silver inventories in Shanghai are collapsing. Deliverable silver on the Shanghai Futures Exchange has fallen to ~350 tonnes, the lowest level since 2015. That’s a -88% drop from the ~3,000 tonne peak in Jan 2021. The drawdown has been amplified by heavy silver exports from China to London in 2025, easing the global squeeze while further draining local inventories. Physical silver supply is becoming increasingly tight. ⚠️📉

🥈 Silver inventories in Shanghai are collapsing.

Deliverable silver on the Shanghai Futures Exchange has fallen to ~350 tonnes, the lowest level since 2015.

That’s a -88% drop from the ~3,000 tonne peak in Jan 2021.

The drawdown has been amplified by heavy silver exports from China to London in 2025, easing the global squeeze while further draining local inventories.

Physical silver supply is becoming increasingly tight. ⚠️📉