银价年内涨近160%，投资银条供不应求

Core Viewpoint - The significant increase in silver prices in China has attracted considerable attention from investors, with prices rising from 12,000 yuan/kg to 18,000 yuan/kg, marking a 50% increase since late November. Despite a notable pullback on December 29, prices remained above 17,000 yuan/kg [1]. Group 1: Price Trends - As of December 29, the price of silver in Shenzhen reached 18.812 yuan/gram, reflecting the overall surge in silver prices [1]. - The London silver price saw an unprecedented annual increase of nearly 160%, significantly outpacing gold's rise, which was approximately 65% [4]. - The Shanghai silver futures contract hit a historical high of 19,998 yuan/kg on December 29, following a brief pullback [4]. Group 2: Supply and Demand Dynamics - Sellers in Shenzhen reported a shortage of silver bars, with factories unable to fulfill orders due to high demand [3][4]. - Some sellers indicated that they had to "抢" (snatch) silver bars from factories, requiring customers to pay a deposit to secure their orders [4]. - The demand for silver bars has surged, but the supply has not kept pace, leading to a scarcity in the market [3][4]. Group 3: Market Behavior and Consumer Interest - The silver jewelry market has seen increased interest, with new silver jewelry sections being established in major trading centers, although foot traffic remains lower compared to gold markets [6][7]. - Despite the high demand for silver bars, the sales of silver jewelry have not experienced significant changes [6][7]. Group 4: Pricing and Processing Fees - The current price for silver bars is 18.812 yuan/gram, with additional processing fees varying among sellers, impacting the final purchase price [8]. - Some sellers charge processing fees as high as 5.8 yuan/gram, which can constitute a significant portion of the total price [8]. Group 5: Market Influences and Future Outlook - The recent surge in silver prices is attributed to a combination of factors, including the return of silver's financial attributes, industrial demand, and market sentiment [10]. - Industrial demand for silver, particularly from the electronics and photovoltaic sectors, is expected to remain a long-term support for prices, with over 50% of total demand coming from industrial applications [11]. - Concerns have been raised by industry leaders, such as Tesla's CEO, regarding the impact of rising silver prices on industrial development [11].