India silver import curbs spark shortages, push premiums to six-month high
India's silver import curbs and higher duties have created domestic shortages, pushing premiums to a six-month high. Impacts jewellery and coin retailers reliant on silver; supplies now largely from Hindustan Zinc as ETF-released metal dries up.
Reported figures
From the report. Source details below
| imports 46.8 tons in May vs | 534.3 tons year earlier |
|---|---|
| import duty raised to 15% from | 6% |
Also in the report
- premiums $6.5/oz, >10% above benchmark
- 80% of demand met via imports