by Steven St. Angelo, SRS Rocco:
After experiencing a small build of inventory over the past few months, silver warehouse stocks at the Shanghai Futures Exchange are now back on the decline. Matter-a-fact, Shanghai Future Exchange (SHFE) silver stocks fell 11 metric tons today, nearly 10% in just one day.
Silver warehouse stocks at the SHFE bottomed in September at 81 metric tons (mt), and then slowly increased to a peak in November….. this can be seen in the chart below:
By the end of October, silver warehouse inventories at the SHFE increased to 120 mt and then peaked on November 11th at 138 mt. In just the past two weeks, 20 mt were removed from the exchange. The chart below shows the weekly change of silver inventory at the SHFE over the past two months:
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