1️⃣
China is quietly draining its silver vaults.
If the current pace holds, exchange stocks hit zero in about 2 months.
Not a slogan – just math from SGE/SHFE’s own reports. 👇 #silver
China is quietly draining its silver vaults.
If the current pace holds, exchange stocks hit zero in about 2 months.
Not a slogan – just math from SGE/SHFE’s own reports. 👇 #silver
2️⃣
Start of the period (late September 2025):
• SHFE vaults: ~1,189,648 kg
Mid-November 2025:
• SHFE vaults: 576,894 kg
That’s a drawdown of –612,754 kg in 46 days – roughly 13 tonnes per day just from the futures exchange.
Start of the period (late September 2025):
• SHFE vaults: ~1,189,648 kg
Mid-November 2025:
• SHFE vaults: 576,894 kg
That’s a drawdown of –612,754 kg in 46 days – roughly 13 tonnes per day just from the futures exchange.
3️⃣
Spot side (SGE weekly vaults):
• Late September: 1,216,965 kg
• Early November: 822,420 kg
Drawdown: –394,545 kg in about six weeks.
That’s another ~9 tonnes per day leaving visible inventories.
Spot side (SGE weekly vaults):
• Late September: 1,216,965 kg
• Early November: 822,420 kg
Drawdown: –394,545 kg in about six weeks.
That’s another ~9 tonnes per day leaving visible inventories.
4️⃣
Put it together:
Late September combined (SHFE + SGE): ≈ 2.41 million kg
Mid-November combined: ≈ 1.40 million kg
China has already burned through ~1,007,000 kg
= ~1,000 tonnes of exchange-reported silver
in ~1.5 months.
Put it together:
Late September combined (SHFE + SGE): ≈ 2.41 million kg
Mid-November combined: ≈ 1.40 million kg
China has already burned through ~1,007,000 kg
= ~1,000 tonnes of exchange-reported silver
in ~1.5 months.
5️⃣
Average over the full period:
≈ 21–22 tonnes of silver leaving per day.
If nothing changes and this drain continues,
the remaining ~1.4 million kg vanish in roughly 60–70 days.
That points to around January 2026 for empty exchange vaults.
Average over the full period:
≈ 21–22 tonnes of silver leaving per day.
If nothing changes and this drain continues,
the remaining ~1.4 million kg vanish in roughly 60–70 days.
That points to around January 2026 for empty exchange vaults.
6️⃣
Now ask yourself a simple question:
If the world’s biggest industrial and investment buyer runs its visible silver stocks toward zero…
👉 What do you think that does to price volatility, futures spreads and physical premiums?
Now ask yourself a simple question:
If the world’s biggest industrial and investment buyer runs its visible silver stocks toward zero…
👉 What do you think that does to price volatility, futures spreads and physical premiums?
7️⃣
This is not about “one crazy day”.
The pattern since early October is brutal:
Repeated daily moves of –30k, –60k, –100k kg from SFE vaults.
Weekly SGE data confirm the same direction: big red numbers, week after week.
This is not about “one crazy day”.
The pattern since early October is brutal:
Repeated daily moves of –30k, –60k, –100k kg from SFE vaults.
Weekly SGE data confirm the same direction: big red numbers, week after week.
8️⃣
Remember: this is only the visible float – the metal that sets prices, delivers against contracts, and lubricates the paper market.
Off-exchange industrial stockpiles or state hoards might exist…
…but once the priced pool runs thin, volatility and spreads explode.
Remember: this is only the visible float – the metal that sets prices, delivers against contracts, and lubricates the paper market.
Off-exchange industrial stockpiles or state hoards might exist…
…but once the priced pool runs thin, volatility and spreads explode.
9️⃣
Why this matters globally:
• China is a dominant buyer of silver for solar, electronics and investment.
• A local shortage doesn’t stay local – it bids metal away from London, COMEX, India and everyone else.
• Tight inventories + strong demand = unstable pricing regime.
Why this matters globally:
• China is a dominant buyer of silver for solar, electronics and investment.
• A local shortage doesn’t stay local – it bids metal away from London, COMEX, India and everyone else.
• Tight inventories + strong demand = unstable pricing regime.
🔟
Could Beijing change this? Of course.
• They could slam imports higher.
• They could change reporting.
• They could restrict exports and keep domestic flows opaque.
But none of that changes the basic fact:
Current visible inventories have been collapsing at ~22 t/day.
Could Beijing change this? Of course.
• They could slam imports higher.
• They could change reporting.
• They could restrict exports and keep domestic flows opaque.
But none of that changes the basic fact:
Current visible inventories have been collapsing at ~22 t/day.
1️⃣1️⃣
Stackers don’t need to time the very last bar leaving China.
They just need to survive the scramble when everyone realises what’s missing.
Hold physical.
Reduce counterparty risk.
Watch the clock on Chinese inventories. ⏳🪙
#silver #SilverSqueeze #China #SoundMoney #stackerlogic
Stackers don’t need to time the very last bar leaving China.
They just need to survive the scramble when everyone realises what’s missing.
Hold physical.
Reduce counterparty risk.
Watch the clock on Chinese inventories. ⏳🪙
#silver #SilverSqueeze #China #SoundMoney #stackerlogic
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