交易商包机空运银锭，伦敦白银惊现历史性逼空，市场流动性几乎完全枯竭

Core Insights - An unprecedented "short squeeze" is driving silver prices above $50 per ounce, marking the second occurrence in history, reminiscent of the 1980 "Hunt brothers" market manipulation attempt [1] Group 1: Market Dynamics - The London silver market is experiencing an unprecedented premium relative to New York futures, with liquidity nearly exhausted, forcing short-position holders to incur high costs for delayed settlements [3] - The London Bullion Market Association is actively monitoring the tight conditions in the silver market, which is influenced by a limited number of banks and vaults in the city [4] Group 2: Factors Contributing to the Crisis - A surge in global investment into gold and silver as a hedge against rising U.S. debt, fiscal deadlock, and currency devaluation is contributing to market volatility [5] - Increased demand from India, particularly during the "golden week" holiday, has exacerbated the liquidity crisis, with some Indian ETFs halting new investments due to domestic shortages [5] - Concerns over potential U.S. import tariffs on silver have led to a preemptive outflow of metal from the U.S. market, further elevating premiums in London [5] Group 3: Inventory and Supply Issues - London silver inventories have decreased significantly, with a 75% drop in freely available silver since mid-2019, primarily due to ETF holdings [7] - The supply of silver is constrained by insufficient mining output to meet both investment and industrial demands, particularly in the solar energy sector [6] Group 4: Price and Borrowing Costs - The silver price has broken multiple records recently, with the London silver auction exceeding $50 for the first time since 1897, and the premium over New York futures reaching $3 [8] - Overnight borrowing costs for silver have surged to over 100% annually, surpassing levels seen during the 1980 squeeze [8] Group 5: Logistics and Market Response - There is a growing urgency among clients to transport silver from New York to London, with estimates of 15 to 30 million ounces being sought for transport [10] - The logistics sector is facing challenges in mobilizing silver from other regions back to London, with high prices potentially alleviating some demand pressures [11]