India silver import curbs spark shortages, push premiums to six-month high
Higher duties (15% from 6%) and import curbs have crushed inflows—46.8 tons in May vs 534.3 tons a year earlier—driving domestic premiums above $6.5/oz, over 10% past benchmark. Jewellery and coin retailers now lean on Hindustan Zinc as ETF-released metal dries up.
India's silver import curbs and higher duties have created domestic shortages, pushing premiums to a six-month high. Impacts jewellery and coin retailers reliant on silver; supplies now largely from Hindustan Zinc as ETF-released metal dries up.
Why this matters
Silver supply tightening reshapes sourcing for Indian jewellery and coin retailers, forcing dependence on domestic producers like Hindustan Zinc as import channels and ETF-released metal both contract.
Retail-company signals accelerating at +660800% QoQ.