📉 China’s silver vaults are running on fumes. As of March 13, 2025, Shanghai Futures Exchange inventories have plunged to 39M oz—a decade low—with an accelerating drain rate that points to “functional zero” by mid-December 2025. In this deep-dive, you’ll see the hard data, the math, and the playbook driving what could become a global physical silver shortage.
What you’ll learn:
The numbers that matter: SHFE 39M oz vs COMEX 113M oz vs London ~45M oz
Why 39M oz = ~17 days of global industrial use (≈850M oz/yr ≈71M/mo ≈2.3M/day)
Functional-zero explained: when vaults can’t operate below ~8–10M oz
Evidence of state-level stockpiling and tiered vault access in Shanghai
How BRICS’ Silver Reserve Initiative could weaponize physical silver
The cascade timeline: delivery restrictions → rule changes → cash settlement risk
Real-world impact: solar manufacturing, smartphones, EV batteries, supply chains
Possible price and policy reactions if the drain persists ⚠️
Chapters:
00:00 Why Shanghai’s 39M oz is a red alert
02:05 SHFE vs COMEX vs London: the inventory gap
04:30 The drain-rate math and “functional zero”
07:10 Tiered vault access and outflow restrictions
10:00 BRICS’ Silver Reserve Initiative and strategy
13:20 Industrial demand shock: solar, EVs, electronics
16:00 The cascade: Shanghai → London → COMEX
19:00 What this could mean for prices and policy
21:30 Key risks, timelines, and what to watch next 🥈
This is analysis and commentary for informational purposes only and is not financial advice. If you want more breakdowns on precious metals, macro, and commodities, subscribe and turn on notifications.
Credit to : Ecom