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Mike Maharrey: Impact of China's new silver export rules has been overstated
By Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Thursday, January 15, 2026
The impact of Chinese silver export rules won't be as significant as many initially thought.
Last week I reported that China was attempting to control the silver market using more restrictive export rules and that it could exacerbate global silver shortages. China has used a similar strategy to control the markets for other rare earth metals.
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However, analysis by Metals Focus reveals that the practical impact of the new rules will likely prove minimal, although it will take time to understand how the Chinese are applying the new rules.
As I explained it, under the new policy, only large, licensed, state-approved companies with an annual silver production capacity of 80 tonnes and a credit line exceeding $30 million can legally export silver. When Chinese officials rolled out the rules, which went into effect Jan. 1, many analysts said it would lock hundreds of small and mid-sized exporters out of the system.
However, these analysts failed to realize that the Chinese government was already regulating and licensing silver exports. These small and mid-sized exporters were already locked out of the system. ...
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