SMM data show China’s refiner inventories of silver ingots fell 17% MoM in June, primarily due to tighter domestic supply and an opened export window. Refiners stepped up exports during the month, driving notable end‑month stock draws.

2026-07-01

SMM data show China’s refiner inventories of silver ingots fell 17% MoM in June, primarily due to tighter domestic supply and an opened export window. Refiners stepped up exports during the month, driving notable end‑month stock draws.