Silver import curbs spark shortages, drive premiums to six-month high above 10%
India's silver import restrictions and higher 15% duty have collapsed inbound volumes to 46.8 tons in May from 534.3 tons a year earlier, pushing domestic premiums to $6.5/oz. Jewellery retailers and coin/bar sellers face tightening supply and rising costs as demand recovers.
India's silver import curbs have created domestic shortages, pushing premiums to a six-month high above 10% over benchmark prices. This materially affects jewellery retailers and coin/bar sellers dependent on silver, with premiums expected to rise further as demand recovers.
Why this matters
India's silver import restrictions and higher duty have collapsed inbound volumes over 90% year-on-year, squeezing jewellery retailers and coin/bar sellers just as domestic demand recovers.
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