China tightens silver exports; here's the reason

Over the past two yearsBeijing has imposed a wave of export curbs aimed at strengthening its grip on supply chains where it holds a dominant position in mining and processing.

Edited by: Ankur Gupta

Updated Jan 12026 13:47 IST

15 companies will be permitted to export tungsten and 11 companies antimonyunchanged from last year. (Image | iStock/Representational)

China has tightened control over exports of silvernaming a limited number of companies permitted to ship the metal overseas during 2026 and 2027as Beijing continues to leverage its dominance over critical minerals amid rising geopolitical and trade tensions. China’s Ministry of Commerce said on Tuesday (December 30) that 44 companies will be allowed to export silver over the two-year periodaccording to a report.

While this is two more than in 2025exports remain tightly regulatedalongside restrictions on tungsten and antimonymetals Beijing considers strategic for domestic industriesReuters reported.

Under the announcement15 companies will be permitted to export tungsten and 11 companies antimonyunchanged from last year.

The move comes as China increasingly invokes national security grounds to control shipments of minerals used across industries ranging from solar power and electronics to defence and ammunitionparticularly as relations with the United States remain strained over chip restrictions and trade tariffs.

Over the past two yearsBeijing has imposed a wave of export curbs aimed at strengthening its grip on supply chains where it holds a dominant position in mining and processing.

Silver is expected to outperform gold in 2026 as industrial demand fuels bullish

Gold and silver began 2026 on a subdued notewith prices showing little movement in early trade.

Howevermarket experts remain firmly bullish on both precious metals for the yearwith silver expected to outperform gold amid strong industrial demandtight supplies and favourable technical signals.

As of 10:15 amsilver was trading nearly flat on the Multi Commodity Exchange (MCX) at Rs 2,35,639 per kg. Earlier this weekthe metal touched a record high of Rs 2,54,174underlining the strength of the ongoing rally.

“Looking at 2026the first half could see further upside. This positive sentiment applies to both gold and silverthough silver is likely to witness stronger price movements,” an analyst told ET Now Swadesh.

Why silver is emerging as the preferred bet

Tarun SatsangiDirector at Armanynoted that silver has delivered its strongest rally since 1979with momentum expected to sustain.

Adding to this viewmarket expert Kedia said battery demand alone could account for up to 60 per cent of annual global silver production over the next two to three yearscreating a structural supply crunch.

“Given this backdropRs 3 lakh per kg is achievable by March 31,” Kedia said.

Technical breakout supports long-term rally

From a technical perspectiveanalysts point out that silver has broken above long-term resistance levelsmarking what many see as a multi-decade breakout.

Ankit KapoorFounder of Commodities Samachar Securitiessaid the current move suggests silver is entering a long-term bullish phase rather than a short-lived rally. He sees prices rising to USD 90–100 in the medium termwith long-term targets of USD 150–180 by 2030–2032.

(Disclaimer: The above article is meant for informational purposes onlyand should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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