<p>中国将从周四开始收紧对银出口的控制，进一步加强对这种传统上被视为普通商品但日益被视为对全球工业和国防供应链具有战略重要性的金属的监管。</p>
<p>这一举措在最近几天引起了关注，因为特斯拉首席执行官埃隆·马斯克在社交媒体平台 X 上批评了这一决定，称该政策在银在许多工业过程中的重要性下 “并不好”。</p>
<p>虽然这些评论使这一问题受到新的关注，但这些措施本身并不新颖，几个月前北京就已首次提出。</p>
<p><strong>银被提升为战略地位</strong></p>
<p>中国商务部在十月宣布了新的出口措施，作为加强对稀有和战略金属监管的更广泛努力的一部分。</p>
<p>该公告是在美国总统唐纳德·特朗普与中国总统习近平在韩国会晤的同一天发布的，当时北京同意暂停对某些稀土出口控制一年，而美国则撤回关税。</p>
<p>本月早些时候，中国发布了 2026 年和 2027 年获批准出口银的 44 家公司名单。</p>
<p>虽然北京尚未正式宣布对银出口的全面禁令，但国有的《证券时报》引用了一位匿名行业内部人士的话称，该政策实际上将银提升到了与稀土相同的监管地位。</p>
<p>根据 2026 年生效的新规则，中国还将限制钨和锑的出口，这些材料在中国占据主导地位，并广泛用于国防和先进技术中。</p>
<p>中国欧盟商会表示，11 月对会员进行的快速调查显示，大多数受访者已经受到或预计将受到中国收紧出口控制的影响。</p>
<p><strong>对美国和全球工业的重要性上升</strong></p>
<p>银出口的收紧正值该金属在工业和国家安全讨论中日益重要之际。</p>
<p>美国在 11 月将银列入其关键矿物名单，指出其在电路、电池、太阳能电池和抗菌医疗器械中的应用。</p>
<p>另一项美国分析指出，中国在 2024 年是全球最大的银生产国之一，并拥有已知的最大储量之一。</p>
<p>贸易数据突显了中国在全球银市场中的重要性。</p>
<p>根据 Wind 信息援引的官方数据，中国在今年前 11 个月出口了超过 4600 吨银，而同期进口约 220 吨。</p>
<p>政策转变与买家兴趣的增加相吻合。</p>
<p>总部位于加拿大的 Kuya Silver 表示，两家中国公司最近提出以市场价格上浮约 8 美元的价格购买实物银，而一位印度买家则以 10 美元的溢价报价，突显出在供应收紧预期下日益增长的需求。</p>
<p><strong>价格飙升，美元走弱</strong></p>
<p>银价在最近几个月大幅上涨，反映了供应担忧和更广泛的宏观经济趋势。</p>
<p>今年该金属价格已翻倍，并有望实现自 1979 年以来最佳年度表现，当时价格飙升近 470%。</p>
<p>现货银在本周早些时候短暂触及每盎司 80 美元以上的纪录，随后回落至约 73 美元。</p>
<p>黄金今年迄今也上涨超过 60%，同样标志着自 1979 年以来的最佳表现。</p>
<p>分析师和评论员将贵金属的飙升与美元走弱联系在一起，美元在 2025 年下跌近 9.5%，是自 2017 年以来表现最差的一年。</p>
<p>比特币，常被视为替代价值储存手段，今年表现落后于贵金属，周三北京时间交易接近 88,000 美元，年内下跌超过 5%。</p>
<p>随着中国收紧对银出口的控制，市场参与者密切关注新措施将如何影响全球供应链、价格和未来一年的贸易动态。</p>

<p>中国将于周四开始加强对银出口的管控，这是其更广泛的战略金属监管策略的一部分。这一举措引发了对全球供应链的担忧，尤其是在特斯拉首席执行官埃隆·马斯克的批评之后。新的法规将银的地位提升至类似于稀土的水平，限制出口将从 2026 年开始。美国也已将银认定为关键矿物，强调其在各个行业中的重要性。近期银价飙升，反映出供应担忧和宏观经济趋势，市场参与者密切关注这些措施的影响</p>

<p>China is set to tighten controls on silver exports from Thursday, extending its oversight over a metal that has traditionally been treated as an ordinary commodity but is increasingly viewed as strategically important to global industry and defense supply chains.</p>
<div class="lb-trans"><p>中国将从周四开始收紧对银出口的控制，进一步加强对这种传统上被视为普通商品但日益被视为对全球工业和国防供应链具有战略重要性的金属的监管。</p>
</div><p>The move has drawn attention in recent days after Tesla Chief Executive Elon Musk criticized the decision on the social media platform X, writing that the policy was “not good” given silver’s importance in many industrial processes.</p>
<div class="lb-trans"><p>这一举措在最近几天引起了关注，因为特斯拉首席执行官埃隆·马斯克在社交媒体平台 X 上批评了这一决定，称该政策在银在许多工业过程中的重要性下 “并不好”。</p>
</div><p>While the comments brought fresh scrutiny to the issue, the measures themselves are not new and were first outlined by Beijing months earlier.</p>
<div class="lb-trans"><p>虽然这些评论使这一问题受到新的关注，但这些措施本身并不新颖，几个月前北京就已首次提出。</p>
</div><p><strong>Silver elevated to strategic status</strong></p>
<div class="lb-trans"><p><strong>银被提升为战略地位</strong></p>
</div><p>China’s Ministry of Commerce announced the new export measures in October as part of a broader effort to strengthen oversight of rare and strategic metals.</p>
<div class="lb-trans"><p>中国商务部在十月宣布了新的出口措施，作为加强对稀有和战略金属监管的更广泛努力的一部分。</p>
</div><p>The announcement came on the same day that US President Donald Trump and Chinese President Xi Jinping met in South Korea, where Beijing agreed to a one-year pause on certain rare earth export controls while the US rolled back tariffs.</p>
<div class="lb-trans"><p>该公告是在美国总统唐纳德·特朗普与中国总统习近平在韩国会晤的同一天发布的，当时北京同意暂停对某些稀土出口控制一年，而美国则撤回关税。</p>
</div><p>Earlier this month, China released a list of 44 companies approved to export silver under the revised framework in 2026 and 2027.</p>
<div class="lb-trans"><p>本月早些时候，中国发布了 2026 年和 2027 年获批准出口银的 44 家公司名单。</p>
</div><p>While Beijing has not formally declared a blanket ban on silver exports, state-run Securities Times cited an unnamed industry insider who said the policy effectively elevates silver to the same regulatory status as rare earths.</p>
<div class="lb-trans"><p>虽然北京尚未正式宣布对银出口的全面禁令，但国有的《证券时报》引用了一位匿名行业内部人士的话称，该政策实际上将银提升到了与稀土相同的监管地位。</p>
</div><p>Under the new rules taking effect in 2026, China will also restrict exports of tungsten and antimony, materials in which it holds a dominant position and which are widely used in defense and advanced technologies.</p>
<div class="lb-trans"><p>根据 2026 年生效的新规则，中国还将限制钨和锑的出口，这些材料在中国占据主导地位，并广泛用于国防和先进技术中。</p>
</div><p>The EU Chamber of Commerce in China said a flash survey of members conducted in November showed that a majority of respondents have been or expect to be affected by China’s tightening export controls.</p>
<div class="lb-trans"><p>中国欧盟商会表示，11 月对会员进行的快速调查显示，大多数受访者已经受到或预计将受到中国收紧出口控制的影响。</p>
</div><p><strong>Rising importance for US and global industry</strong></p>
<div class="lb-trans"><p><strong>对美国和全球工业的重要性上升</strong></p>
</div><p>The tightening of silver exports comes as the metal gains prominence in industrial and national security discussions.</p>
<div class="lb-trans"><p>银出口的收紧正值该金属在工业和国家安全讨论中日益重要之际。</p>
</div><p>The United States added silver to its list of critical minerals in November, citing its use in electrical circuits, batteries, solar cells, and anti-bacterial medical instruments.</p>
<div class="lb-trans"><p>美国在 11 月将银列入其关键矿物名单，指出其在电路、电池、太阳能电池和抗菌医疗器械中的应用。</p>
</div><p>A separate US analysis noted that China was among the world’s largest producers of silver in 2024 and home to one of the largest known reserves.</p>
<div class="lb-trans"><p>另一项美国分析指出，中国在 2024 年是全球最大的银生产国之一，并拥有已知的最大储量之一。</p>
</div><p>Trade data highlights China’s significance in the global silver market.</p>
<div class="lb-trans"><p>贸易数据突显了中国在全球银市场中的重要性。</p>
</div><p>According to Wind Information, citing official figures, China exported more than 4,600 tons of silver in the first 11 months of the year, compared with imports of roughly 220 tons over the same period.</p>
<div class="lb-trans"><p>根据 Wind 信息援引的官方数据，中国在今年前 11 个月出口了超过 4600 吨银，而同期进口约 220 吨。</p>
</div><p>The policy shift has coincided with increased interest from buyers.</p>
<div class="lb-trans"><p>政策转变与买家兴趣的增加相吻合。</p>
</div><p>Canada-based Kuya Silver said two Chinese companies recently offered to purchase physical silver at about $8 above prevailing market prices, while an Indian buyer made an offer at a $10 premium, underscoring growing demand amid tightening supply expectations.</p>
<div class="lb-trans"><p>总部位于加拿大的 Kuya Silver 表示，两家中国公司最近提出以市场价格上浮约 8 美元的价格购买实物银，而一位印度买家则以 10 美元的溢价报价，突显出在供应收紧预期下日益增长的需求。</p>
</div><p><strong>Prices surge as dollar weakens</strong></p>
<div class="lb-trans"><p><strong>价格飙升，美元走弱</strong></p>
</div><p>Silver prices have rallied sharply in recent months, reflecting both supply concerns and broader macroeconomic trends.</p>
<div class="lb-trans"><p>银价在最近几个月大幅上涨，反映了供应担忧和更广泛的宏观经济趋势。</p>
</div><p>The metal has more than doubled in price this year and is on track for its best annual performance since 1979, when prices surged nearly 470%.</p>
<div class="lb-trans"><p>今年该金属价格已翻倍，并有望实现自 1979 年以来最佳年度表现，当时价格飙升近 470%。</p>
</div><p>Spot silver briefly touched a record above $80 an ounce earlier this week before retreating to around $73.</p>
<div class="lb-trans"><p>现货银在本周早些时候短暂触及每盎司 80 美元以上的纪录，随后回落至约 73 美元。</p>
</div><p>Gold has also gained more than 60% so far this year, also marking its strongest performance since 1979.</p>
<div class="lb-trans"><p>黄金今年迄今也上涨超过 60%，同样标志着自 1979 年以来的最佳表现。</p>
</div><p>Analysts and commentators have linked the surge in precious metals to a weakening US dollar, which has fallen nearly 9.5% in 2025, its worst annual showing since 2017.</p>
<div class="lb-trans"><p>分析师和评论员将贵金属的飙升与美元走弱联系在一起，美元在 2025 年下跌近 9.5%，是自 2017 年以来表现最差的一年。</p>
</div><p>Bitcoin, often touted as an alternative store of value, has lagged behind precious metals, trading near $88,000 on Wednesday morning Beijing time and down more than 5% for the year.</p>
<div class="lb-trans"><p>比特币，常被视为替代价值储存手段，今年表现落后于贵金属，周三北京时间交易接近 88,000 美元，年内下跌超过 5%。</p>
</div><p>As China moves to tighten control over silver exports, market participants are closely watching how the new measures will affect global supply chains, prices, and trade dynamics in the year ahead.</p>
<div class="lb-trans"><p>随着中国收紧对银出口的控制，市场参与者密切关注新措施将如何影响全球供应链、价格和未来一年的贸易动态。</p>
</div>

中国计划收紧白银出口管制，这引发了对全球供应链的担忧