After India implemented the silver import licensing system, about 400 tons of licenses have recently been approved. In August, it imported about 89.81 tons through the India International Gold and Silver Exchange, which resumed for the first time in six months. The new regulations require each shipment to be accompanied by an official certificate issued by the government of the country of origin, causing delays in customs clearance. According to SMM research, some silver ingots from Hong Kong have also recently been sent to India. Currently, supply in the Indian market has improved compared to July, but the logistics process will still take weeks, and inventory is still tight.

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