Uhm, why would the Peruvian silver be unavailable for trade just because the Spanish don't have it? People are still going to be desperate to trade with China. Silver is the only thing that China will take. Therefore some method must be found to persuade whomever runs Peru to allow access to said silver...
But it's not like the SPANISH just gave the stuff to the rest of Europe, they bought stuff with silver, and that is how it came to the rest of Europe. So why wouldn't the Incans (if they are the Peruvian rulers) trade silver for horses, muskets, artillery, etc, etc?
It won't be unavailable, but it won't be available in the massive quantities at extremely low costs that it was OTL.
Peruvian silver wasn't great for the economies of the Old World because it was available in great quantities, but because it was
also dirt cheap thanks to being mined by exploited, underpaid natives in terrible conditions with little to no thought given for the damage done to the local population, because said population were not European and therefore were not considered to
really be people. It cost the Spanish basically nothing to mine the silver which could then be sold for 'full' prices in Europe, or even higher prices in China due to the Chinese having a different
bimetallic ratio of silver to gold until the 1640s. That makes it less profitable, which means less merchants are interested, which means less volume is traded.
So if the silver lodes aren't owned by Europeans willing and able to exploit the natives for cheap labor, then it is unlikely that said natives will be willing to exploit
themselves for cheap labor, which means less silver gets mined and it costs more to do so, lowering profits even further.
In short, there will be less silver coming out of the New World, and it will be more expensive to produce. Which will cause the various economic issues between Europe and China that came to a head in the 1800s to happen sooner, as the only reason those issues were delayed until the 1800s was because of the influx of cheap silver from the New World propping the European and Chinese economies up.