China to Restrict Silver Exports Starting January 1
China will implement stricter controls on silver exports starting Thursday, January 1, indicating a notable change for a metal that was previously regarded as a standard industrial commodity, as per reports. The decision is anticipated to have significant implications for global supply chains, particularly in the United States, where silver plays a crucial role in industrial and defense-related manufacturing. The decision has garnered significant attention from business leaders and policymakers, given that silver is essential in electronics, renewable energy, and advanced technologies. Tesla CEO Elon Musk responded over the weekend on his social media platform X. He replied to a post addressing China’s forthcoming export regulations. “This is not good.” Musk wrote “Silver is needed in many industrial processes.”
While the restrictions are now being implemented, their initial announcement came in October 2024 from China’s commerce ministry. The measures were part of a broader effort to tighten oversight of rare and strategic metals, according to the report. The announcement came at the same time as a meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea. During that period, China consented to suspend specific rare earth export restrictions for a year, while the US lowered certain tariffs. In December 2025, China unveiled a list of 44 companies authorized to export silver under the newly established framework for 2026 and 2027.
The revised regulations will extend to tungsten and antimony — two resources in which China holds a leading position in global supply. China has yet to make an official announcement regarding a total ban on silver exports. On Tuesday, it is reported that the new policy effectively elevates silver from a common commodity to a strategic resource. The report indicates that silver will now be regulated in a manner akin to rare earth metals, signaling tighter government control over its exports. The EU Chamber of Commerce in China reported that a significant number of its member companies have already experienced or anticipate being affected by China’s export controls, according to a survey.
In the United States, silver was included in the national list of critical minerals in November. The government emphasized its application in electrical circuits, batteries, solar panels, and medical tools, according to the report. According to reports, China exported over 4,600 tonnes of silver in the first 11 months of 2025, while importing only about 220 tonnes. There has been a notable increase in interest in silver in recent weeks. Kuya Silver, based in Canada, announced that it has received offers from two Chinese companies to purchase physical silver at approximately $8 above market prices. David Stein also confirmed that an Indian buyer subsequently made an offer $10 above market rates. Silver prices have surged significantly this year, more than doubling and on track for their strongest annual performance since 1979. Earlier this week, prices briefly surpassed $80 an ounce before settling around $73. Gold has experienced an increase of over 60 per cent this year. Meanwhile, the US dollar index has experienced a decline of nearly 9.5 percent in 2025, marking its worst performance since 2017.
