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白银ETF持仓量和银价(百万盎司)
白银ETF持仓量和银价(百万盎司)
行业数据
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所属报告:
专题报告:大类资产新视角(三)~当下白银的供需特征及历史价格复盘-260121(27页).pdf
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5qC55o2u5Zu+6KGo5o+Q5Y+W55qE5pWw5o2u5aaC5LiL77yaCgp8IOaciOS7vSB8IOWFqOeQg+m7hOmHkSBFVEYg5oyB5LuT5Y+Y5YyW6YeP77yI5ZCo77yJIHwKfDotLS0tOnw6LS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS0tLS06fAp8IDHmnIggIHwgKzUwICAgICAgICAgICAgICAgICAgICAgICAgICAgfAp8IDLmnIggIHwgKzEwICAgICAgICAgICAgICAgICAgICAgICAgICAgfAp8IDPmnIggIHwgLTk1ICAgICAgICAgICAgICAgICAgICAgICAgICAgfAp8IDTmnIggIHwgKzI3ICAgICAgICAgICAgICAgICAgICAgICAgICAgfAp8IDXmnIggIHwgLTEwICAgICAgICAgICAgICAgICAgICAgICAgICAgfAp8IDbmnIggIHwgLTU1ICAgICAgICAgICAgICAgICAgICAgICAgICAgfAp8IDfmnIggIHwgLTEgICAgICAgICAgICAgICAgICAgICAgICAgICAgfAoKKirotYTmlpnmnaXmupDvvJpXaW5k77yM5b2t5Y2a77yM55Sz5LiH5a6P5rqQ56CU56m2Kio=
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全球益生菌膳食补充剂市场规模及增速
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2026-07-30
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全球拥有AKK专利菌株的核心企业
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2026-07-30
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白银 ETF 持仓量暴涨造成了流动性短缺,推高银价。结合 2025 年末全球市场形势来看,结构性实物短缺、工业需求爆发与地缘政策冲击进一步深化,市场对白银持乐观预期。白银 ETF持仓量(用 SLV 和 PSLV两个数据的总和表示)从 6亿盎司逐步攀升至 7.5 亿盎司以上,期货价与现货价也从 20-25 美元/盎司突破至接近 80美元/盎司。当前市场已进入深度现货溢价状态(现货较1年期期货溢价7%)。据估计,LBMA 金库中除去 SLV 等 ETF 和私人财富客户持有,白银自由流动库存仅 6600吨。随着投资需求的激增,ETF持仓量的暴涨将白银从供应流通中抽离,自由流动库存进一步减少。此外,市场对美国加征关税的担忧以及中国 2026 年出口管制政策落地在即,打造了白银“西向美国囤积、东向亚洲消费”的模式,纸面市场与实物市场割裂加剧。
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专题报告:大类资产新视角(三)~当下白银的供需特征及历史价格复盘-260121(27页).pdf
白银主要供给结构(百万盎司)
近年来,白银供需差情况(百万盎司)
近年来,白银供需结构表汇总(百万盎司,$/oz)
白银消费属性变化趋势(百万盎司)
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