LBMA's Silver Good Delivery List

The silver refinery of Shenzhen Cuilu Gold Refinery Co., Ltd. has been added to LBMA’s Good Delivery List for silver with effect from Wednesday, 8 May 2024.

Shenzhen Cuilu Gold Refinery Co., Ltd has satisfied LBMA regarding its ownership, history, production capability, and financial standing. It has also passed LBMA’s exhaustive testing procedures, under which its silver bars were examined and assayed by independent referees, and its own assaying capabilities were tested.

Shenzhen Cuilu Gold Refinery Co., Ltd is located in Shenzhen City, China. Shenzhen Cuilu Gold Refinery Co., Ltd was registered in July 2007 as a wholly owned subsidiary of Shenzhen Cuilu Gold Co., Ltd. It mainly engages in the recycling and refining of precious metals such as gold, silver, platinum and palladium, etc.

Background
The London Good Delivery List of Acceptable Refiners of gold and silver is maintained by LBMA, by whom it is copyrighted. It lists those refineries whose gold and silver bars have been found, when originally tested, to meet the required standard for acceptability in the London bullion market. The List now includes 66 gold and 80 silver refiners.
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pmbug said:

New Addition to LBMA's Silver Good Delivery List

The silver refinery of Shenzhen Cuilu Gold Refinery Co., Ltd. has been added to LBMA’s Good Delivery List for silver with effect from Wednesday, 8 May 2024.

www.lbma.org.uk

I'm not sure what the immediate implications are for this. Is China getting ready to sell/deliver silver to the LBMA? Or are they going to be busy recasting silver into LBMA good delivery specs for vaulting in China?

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from the 10:32 mark said:

... since 2019 there have been 12 refiners added to the lbma list. I went through them today. Of the 12 that were added nine are from China One is from Kazakhstan and one is from Australia. There are no refiners opening shop in the west there are only refiners and vaults opening shop in the East.

Now one of the things that we've talked about here before is the flow of business you know when demand in the East grew metal started getting shipped there businessmen open shop there vaults move there um uh exchanges open up and list competing products there and eventually pricing moves there and by that I mean pricing becomes more dominant there the the next stage and we're not we're not at the final stage yet but the next stage is we export gold and silver to China.

China exports price Discovery to us so when you open up refineries in Europe uh you are able to lower your cost reduce transmission time meaning from getting the metal from point A to point B and also from getting price from point B to point A so you they're reg globalizing Supply chains along Eastern lines another silver brick in the Chinese wall is the way I look at it.

... The Godfather says either your brains or your signature will be on that contract well this is what China is doing Ian I mean not not so violently China is saying either your metal will come to us or your price will be received by us either you take our price and start broadcasting it or you take or we will take your metal and that's what's going on so uh China has metal and they will sell it at a price but they won't sell it to you in the west unless you acknowledge their price and that's that's where we're headed with this you know once the price on the outside reflects the price on the inside you're going to start seeing China perhaps uh do two-way business but between now and then just you should start to see the Chinese uh Arbitrage between silver uh start to narrow a little bit if it doesn't then we're going a lot a lot higher if it does we're still going higher just at the at the higher end of the Arbitrage ...

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Voodoo said:

How does China let Silver get refined there and then sent to the LBMA? Seems counter-productive to their recent interests.

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The London Bullion Market Association (LBMA) said that two refineries have been added to its Good Delivery Lists. Shenzhen Yuexin Precious Metals Co., Ltd. has been added to the Gold Good Delivery List, while the Istanbul Gold Refinery Inc. has been added to the Silver Good Delivery List.
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Voodoo said:

How does China let Silver get refined there and then sent to the LBMA? Seems counter-productive to their recent interests.

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searcher said:

Came across this while watching a vid by Mario (maneco64)

Indications That The London Vault Silver Red Line Is Very Close

“What we call chaos is just patterns we haven’t recognized.

jensendavid.substack.com

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