Stunning One-Day Decline In Shanghai Futures Exchange Silver Inventories

In a surprising update, the Shanghai Futures Exchange reported one of the largest single-day withdrawals of silver off its exchange today.

From Aug 12th to Aug 18th, the silver stocks at the SHFE increased a mere 5 mt, from 251 mt to 256 mt. However, in just one day, silver inventories fell a whopping 23 mt to 233 mt today. This was nearly a 10% decline of total silver warehouse stocks at the SHFE in a single day. If we convert 23 mt to ounces, it turns out to be 739,450 oz. That’s a lot of silver.

So, in a little more than two months, the SHFE silver stocks have declined a whopping 41% from 394 mt (June 15) to 233 mt today. We have seen the same kind of decline at the COMEX Registered Silver Inventories, but over a longer period of time.

Investors need to realize something has changed in the silver market ever since financial turmoil increased significantly due to a possible Greek Exit of the European Union in the middle of June. Even though we are not seeing a massive shortage of silver on the wholesale market, that could arrive overnight.

[link to srsroccoreport.com]