Silver inventories on the Shanghai Futures Exchange (SHFE) climbed above 350 tonnes after recently plunging to their lowest level in nearly a decade, according to the latest data.
Silver available for delivery on the SHFE rose to around 353.559 tonnes on February 13, up from 349.633 tonnes a day earlier, as per CEIC data. The exchange’s silver inventories had fallen to 318.546 tonnes on February 9 — the lowest level since 2015.
Despite the recent uptick, SHFE stockpiles remain sharply below their historical peak. Silver inventories are down more than 88% from the record high of 3,091.112 tonnes recorded on January 12, 2021, underscoring the significant drawdown in China’s exchange-held silver stocks over the past few years.
The steep depletion has been partly attributed to substantial silver exports from China to London in 2025. These shipments helped alleviate the global physical squeeze in international markets but materially reduced domestic inventories, intensifying tightness within China’s local silver ecosystem.
Meanwhile, the global silver market is projected to remain in deficit for a sixth consecutive year, according to a report by the Silver Institute. The report noted that strong investment demand is expected to outweigh softer jewellery demand and efforts to moderate usage in the solar sector.
Silver Rate Today
Silver prices declined more than 1% toward $76 per ounce on Monday, reversing the previous session’s nearly 3% rally that was supported by softer US inflation data. Spot gold slipped 0.4% to $5,020.10 per ounce after gaining 2.5% in the prior session.
Silver had earlier surged above $120 per ounce in late January before retreating to around $64 earlier this month as speculative momentum unwound.
In the domestic market, MCX silver prices traded 3% lower, following a decline in international prices. MCX silver rate opened 2.4% lower at ₹2,38,489 per kg on Monday, as against its previous close of ₹2,44,360 level. Silver price was trading lower by ₹6,492, or 2.66%, at ₹2,37,868 per kg.
According to Jigar Trivedi, Senior Research Analyst at IndusInd Securities, MCX silver price for March futures may drop to ₹2,35,000 per kg amid a weak sentiment in the world markets.
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