China Lists Companies Allowed To Export Silver In 2026-2027

China released the names of companies which will be allowed to export tungsten, antimony and silver from 2026 and 2027, a report by Reuters said. Beijing deemed these metals critical to support its domestic industry and aimed to restrict the export of the metals. This could add to the further rise in silver prices as industrial demand for the white metal remains firm and is expected to rise further due to the focus on new technology like artificial intelligence and clean energy.

China has named a total of 44 companies that will be allowed to export silver, while 15 companies can export tungsten and 11 companies can export antimony, as per a statement by China’s Ministry of Commerce. In 2025, 42 companies were allowed to export silver.

China has imposed various restrictions in the past two years, citing national security, to leverage its dominance in the mining space and in the processing of critical minerals. These minerals have significant industrial demand and use, with silver used in smartphones, electric car batteries, infrared missiles and ammunition, among others. This wave of restrictions was a response to the US’ restrictions and tariffs on chip imports.

China exported more than 4,600 tonnes of silver from January to November, significantly higher than nearly 220 tonnes of silver imported during the period, according to official figures.

China put certain antimony products, which were restricted from being exported in September 2024, followed by export restrictions of several tungsten products in February this year. Antimony and tungsten are used in defence, clean energy and other industries, and their prices have soared this year due to supply tightness in global markets after restrictions on the export of these minerals.

The change in companies allowed to export will come into effect on January 1.

Elon Musk, chief executive officer of Tesla, criticised the move on his social media platform X, formerly known as Twitter. “This is not good. Silver is needed in many industrial processes,” Musk wrote.

Silver prices have touched record highs due to supply constraints and low inventories, amid rising industrial demand and a push towards investments in safe-haven assets. White metal, a precious metal used in jewellery, along with clean energy such as solar panels and other industries, also soared after the US included silver in its critical minerals list.

Silver prices have more than doubled this year, on track for their best year since 1979. Silver spot prices are currently trading at around $70 per ounce in the spot market, retreating after touching a record above $80 at the beginning of the week. Silver is expected to remain in favour, with many expecting the supply-demand mismatch to further aid silver prices.