Elon Musk retweets X user post over China’s silver export controls and industrial impact

China will require government licences for all silver exports starting January 1, 2026, a move that could disrupt global supply chains amid a sharp rise in prices and tightening physical availability, a post on a post on X by user Mario Nawfal.

Silver prices have nearly doubled since May, rising from around $38 to over $74 per ounce, as demand outpaces supply. The development was highlighted in a post on X by user Mario Nawfal, which was later retweeted by Tesla CEO Elon Musk. Musk shared the post with the caption, “This is not good. Silver is needed in many industrial processes.”

Silver supply risks and industrial impact

The post noted that silver is a critical input for sectors such as solar energy, electric vehicles, electronics, medical equipment and 5G infrastructure. It highlighted silver’s unique property as the most electrically conductive metal, making it difficult to substitute in many industrial applications.



China controls a significant share of global silver refining capacity. According to the post, export restrictions could tighten supply, push prices higher and create bottlenecks for green energy and technology manufacturing worldwide, increasing the cost of the energy transition.

Top silver-producing countries

Rank	Country	Production (million ounces)	World share (%)
1	Mexico	202.2	24
2	China	109.3	13
3	Peru	107.1	13
4	Chile	52.0	6
5	Bolivia	42.6	5
6	Poland	42.5	5
7	Russia	39.8	5
8	Australia	34.4	4
9	United States	32.0	4
10	Argentina	26.0	3