Jinten Futures, December 31. Towards the end of the year, due to some market traders' misunderstanding of China's silver export policy, news such as “silver export controls will be implemented from January 1, 2026” is fermenting, disturbing the overheated bullish atmosphere. This policy was issued by the Ministry of Commerce on October 29, 2025. The document is called “Ministry of Commerce Notice No. 69 of 2025 Announces Total Export Quotas for 2026”, which clearly states that from January 1, 2026, silver export quota management will continue to be suspended and export license management will be implemented. Since the announcement was not clearly different from previous policies, and manufacturers that have been operating in export processing trade for many years did not mention notices such as stricter license applications, etc., it did not attract market attention after the announcement was issued. In fact, as early as 2018, the Ministry of Commerce issued an announcement stating that export quota management for phosphate ore and silver will be suspended from January 1, 2019, and adjusted to implement license management. Since then, silver exports have continued to be subject to license management every year, but only at the end of 2025, the market was specially fermented by overheated market conditions.

Jinten Futures, December 31. Towards the end of the year, due to some market traders' misunderstanding of China's silver export policy, news such as “silver export controls will be implemented from January 1, 2026” is fermenting, disturbing the overheated bullish atmosphere. This policy was issued by the Ministry of Commerce on October 29, 2025. The document is called “Ministry of Commerce Notice No. 69 of 2025 Announces Total Export Quotas for 2026”, which clearly states that from January 1, 2026, silver export quota management will continue to be suspended and export license management will be implemented. Since the announcement was not clearly different from previous policies, and manufacturers that have been operating in export processing trade for many years did not mention notices such as stricter license applications, etc., it did not attract market attention after the announcement was issued. In fact, as early as 2018, the Ministry of Commerce issued an announcement stating that export quota management for phosphate ore and silver will be suspended from January 1, 2019, and adjusted to implement license management. Since then, silver exports have continued to be subject to license management every year, but only at the end of 2025, the market was specially fermented by overheated market conditions.