Page 20 - Bullion World Issue 6 October 2021_Neat

Net Silver Imports into India in tons
9000
8000
7000
6000
5000
4000
3000
2000 2467 4339 2037 5785 6812 7910 3415 5500 6957 5566
1000
0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Net silver imports

Silver paste, ink
Silver granules,
Silver bullion Silver dore grains & powder Silver alloys & and other forms
silver catalyst
(90-92%) (2-5%) (2-4%) (2-3%) (1%)

Silver bullion, is usually a 30 kg
ingot of 999 or 9999 fineness silver INTERNATIONAL SUPPLIERS OF
produced by an LBMA accredited SILVER BULLION INTO INDIA
refiner. Occasionally, it can be 15
kg ingot or one kg silver bars also.

Imports come from about 20
countries. Switzerland, Germany, Others
Russia, China, South Korea, Hong 27%
Kong, UK, USA are some of the
main sources from where silver J P Morgan
bullion flows. 51%
ICBC
95- 98% of the metal by volume Standard
moved by sea into either Kandla 22%
SEZ or Satyavedu AP SEZ (aka Sri
City).

Movement by sea is usually in
containers with each container Other International banks - Standard Chartered Bank, ANZ Bank, JSC VTB
load varying between 15 tons to Bank and UBS.
20 tons of silver. By air, it is usually
100 kg to 1000 kg. Cost of storage Other Non-bank suppliers – INTL FC Stone (now called StoneX), Heraeus
in India is roughly one third of that Metal, Korea Zinc and The Perth Mint
incurred in vaults in developed
countries. So, overseas suppliers
stock in India.

Overseas suppliers bring in
supplies against commitment from
local banks and PSU nominated
agencies.