Group 1 - The core viewpoint is that the silver market is experiencing a significant supply shortage, which is expected to continue driving prices upward in the medium to long term [2][3]. - The Chicago Mercantile Exchange (CME) announced a change in margin requirements for precious metals contracts, shifting from fixed dollar amounts to a percentage of the contract's nominal value [2]. - The global silver market has faced a continuous shortage for five years, with an estimated shortfall of approximately 3,660 tons in 2025, exacerbated by China's new export regulations [2]. Group 2 - Dongwu Futures emphasizes that the long-term trends in precious metals, particularly silver, will be influenced by structural shortages and global monetary policy rather than isolated exchange measures [3]. - Hualian Futures notes that the supply side of silver is significantly constrained while demand is increasing, driven by sectors such as photovoltaics, electric vehicles, and AI data centers [3]. - The global silver ETF inflows are ongoing, and the available deliverable inventory is at historical lows, indicating a tight market situation [3].
需求端有明显增量 白银中长期走势预计保持强劲
Jin Tou Wang·2026-01-14 06:08