By Tracy Qu
Silver companies' stocks rose after prices of the precious metal hit a more than decade high, buoyed by industrial and investor demand.
Shares of Hunan Silver climbed 10% in Shenzhen on Monday, rising by the daily limit. Baiyin Non-Ferrous Group gained 7.3% in Shanghai and Shengda Resources shares rose 6.5% in Shenzhen.
The advances came as spot silver prices jumped 1.7% to around $39 an ounce, taking gains to about 35% so far this year. The white metal has outperformed the 28% year-to-date gain by gold, which has also been on a tear thanks to demand for safe-haven assets.
Silver's rally is being fueled in part by industrial demand, Tongguan Jinyuan Futures analysts said in a commentary. President Trump's announcement of a 50% tariff on U.S. copper imports starting Aug. 1 has highlighted silver's role as an industrial metal.
Like copper, silver is used in industrial applications like renewables and electronics, and could present an alternative in some instances for manufacturers if copper becomes too expensive.
The analysts said they expect silver's momentum to stay strong as the sudden renewal in demand revives a prior period of softness.
Since the start of the year, Hunan Silver's shares have gained 43%, while Baiyin has risen 27% and Shengda has added 38.5%.
Write to Tracy Qu at tracy.qu@wsj.com
(END) Dow Jones Newswires
July 14, 2025 02:15 ET (06:15 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Comments