FT Alphaville reports (via Bullion Vault dealers):
Looking at China’s latest import data, 2010 saw silver imports (net of exports) rise four-fold from 2009 note analysts at Mitsui in London – a total of 3,500 tonnes.
A heavy seller of silver bullion after lifting the state’s 50-year monopoly in 2000, China was a net export of 3,000 tonnes as recently as 2005.
Is this support for the massive 80% year over year jump in the price of silver under the belief that China will continue to be a huge buyer of silver? Or is this a sign that the price is bubblicious and investors should be concerned that China's economy will be forced into slow down mode (thus less net purchases) following the recent strong print in both growth and inflation?
Source: Yahoo Finance