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Silver supply/demand historical and current

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Mon, Feb 1, 2016 - 11:10pm (Reply to #220)
Wy So Lo
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OZ SA
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Silverwood

Good question "why eagles" I doubt there is anything sus at foot, rather the unquestioned recognition of the coin itself. As such there is safety in numbers and all dealers will be able to tell at a glance whether genuine or not. It probably trades in those massive volumes at much lower premiums than those we see at our dealers.

Tue, Feb 9, 2016 - 12:50pm
silverwood
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Sierra Metals Inc. (TSX: SMT) (BVL: SMT)

Silver production 2015 ... 3,104,952 oz about the same as 2014 silver production of 3,148,145 oz.

Fri, Feb 12, 2016 - 1:46pm
silverwood
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Silver demand disinformation

This article appeared today at Kitco...

Will Silver Outperform Gold As Metals' Rally Continues? - Analysts Debate

By Sarah Benali of Kitco News
Friday February 12, 2016 12:50

(Kitco News) - It’s been all about gold since the start of the year, but some analysts are turning their attention to silver. 

Unable to agree on whether or not silver can outperform gold this year, two analysts do agree on one thing: it depends on industrial demand, particularly for electronics. 

According to Simona Gambarini, commodities economist for U.K.-based Capital Economics, silver should outperform gold and rally to $16.50 an ounce by year-end. She added that prices should eventually rise to $18 an ounce by end-2017. 

Gold and silver futures have been rallying since the start of the year, both up around16% and 14% year-to-date, respectively. April Comex gold futures were last down $10.90 at $1,236.90 an ounce while March silver was down 0.18% at $15.765. 

“While subdued industrial demand has been one of the main reasons behind the weakness in silver prices over the last few years, 2016 could be the turning point,” Gambarini said in a research note Friday, adding that it is likely to happen during the second half of the year.

Focusing mainly on electronics demand, which accounts for about 25% of total silver demand, she noted that over the years, silver has beat gold 70% of the time when electronics demand is on the rise and when sentiment towards the sector is positive. 

“Data released by Markit last week confirmed that electronics demand is showing signs of improvement lately, with the Global Manufacture of Electronic Equipment PMI reaching 51.4 in January,” she said. 

However, one analyst at Thomson Reuters GFMS disagreed, and expects electronics demand for silver to decline.

“To start, the average size of consumer devices has been declining and this trend is expected to continue,” said Erica Rannestad, senior analyst in precious metals demand for the research firm. 

“[T]traditional PCs, the largest and containing the highest per-unit amount of precious metals among these devices, is declining while other device shipments are rising,” she added, commenting on data provided by Gartner, a U.S.-based technology research firm.

Rannestad explained that despite there being a rise in other devices, they are much smaller in size and therefore use less precious metals. 

“[T]he total volume demand for PMs is slated to be flat to lower,” she argued. “[W]hile consumer expectations are ‘improving,’ according to the Consumer Technology Association, this is more so about spending, which sort of reinforces my point – sure device demand will increase, but not in PMs’ favor.”

The latest GFMS data shows that silver demand for electronics has been declined over 6% from 2013 to 2015 and is expected to be 242.5 million ounces in 2016. Over the same period, total physical demand for silver has also declined by about 4%, and is expected to reach about 1.05 billion ounces so far in 2016.

*So, If we go to the silver institute site we can see electronic demand for silver was 267 moz in 2012, 266.2 moz in 2013 and 263.9 moz for 2014. 2015 results have not yet been posted. Regardless the drop from 2013 to 2014 was 2.3 moz and according to the article this is the reason for declining silver prices! WTF one month of American Eagle sales alone can make up for this. This is total B--- S---!*

Fri, Feb 12, 2016 - 7:44pm
Wy So Lo
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There must be some mistake

The economy is growing apple and microsoft are growing , the silver use in electronics must be increasing, everyone has jobs and new iphones. sarc off Anyway as you point out the investment demand is going to be the loud bang that wakes this baby up.

Wed, Feb 17, 2016 - 1:22pm
silverwood
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Agnico Eagle 2015 production results (AEM)

Data was obtained from...https://ir.agnicoeagle.com/English/investor-relations/news-releases/news...

In 2015 AEM produced 4,258,000 oz of silver compared to 2014 silver production of 3,564,000 oz. 2015 saw an increase of 694,000 oz silver, a 19.4% increase. AEM produced 1,671,340 oz of gold for a silver/gold production ratio of 2.55/1

Thu, Feb 18, 2016 - 8:36pm
silverwood
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GLOBAL SILVER MINING PRODUCTION INCREASES IN 2015

*After looking at the 2015 mining production results for silver I was suspecting that 2015 was going to be very close to 2014 production, which was a record silver production year. I believe the lower prices we where seeing was due to mining supply going into slowing industrial demand. This had to have some bearing on the short sellers motivations, IMO.*

Global Silver Mining Production Increases In 2015.

The U.S. Geological Survey estimates that global silver mining production increased about 2% in 2015 vs. 2014.

JM Bullion

Mexican Mining Companies Lead the 2015 Silver Mining Production Increase 

Last month we reported on the bevy of Mexican Silver Mining Companies that had achieved record silver production in 2015. We also estimated that while U.S. silver mining production was down about 20% month over month in the final months of 2015 vs. comparable months in 2014, annual silver mining production in 2015 would be down less dramatically when compared to 2014 annual mining output.

U.S. Geological Survey Estimates Global Increase in Silver Mining Production in 2015

In its January 2016 report, the U.S. Geological Survey (USGS) estimated that global silver mining production rose about 2% in 2015. The USGS estimated total global silver mining production in 2015 to be 27,300 metric tonnes (877,714,110 ounces of silver*) vs. 26,800 metric tonnes (861,638,760 ounces*) tonnes in 2014. 

The Silver Institute’s Numbers

The USGS numbers are roughly in line with the Silver Institute’s estimates of 865,000,000 ounces in 2014 and an estimate of 867,200,000 ounces in 2015.

The chart below shows global silver mining production in metric tonnes from 2014 – 2015.

Global silver mining production chart 2014- 2015

Global Silver Mining Production increased 1.8% in 2015.

The USGS estimated that Mexican silver mining production increased 8% in 2015 from 2014. Globally, all major silver mining countries are estimated to have increased silver mining production with the exception of Australia (1.2% estimated decline), Bolivia (3% decline) and the United States (6.8% decline).

Compare American Silver Eagles for sale at:

BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange

2016 Silver Mining Production Outlook

The Silver Institute projects a five percent decline in silver mining out put in 2016.

Endeavour Silver, a primary Mexican silver miner announced earlier this month that it planned to place one of its three silver mines in care and maintence mode by the end of 2016, resulting in a twenty-five percent decrease in its silver mining output

Pan American Silver, another silver miner with operations in Mexico indicated earlier this year that it anticipated 2016 silver production to “decline slightly to between 24.0 million and 25.0 million ounces” (from 26.12 million ounces in 2015 – 4-5%). Fortuna Silver Mines Inc announced in January that it anticipated year over year growth in silver production at its mines in Mexico and Peru. (from 6.6 million ounces)

Fri, Feb 26, 2016 - 12:41pm
silverwood
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Goldcorp 2015 production results

Goldcorp (GG) is a large silver producer and produced as follows;

Silver produced (ounces) 

10,095,700 for 2015

10,426,300 for 2014 so we saw a small drop in silver production yoy.

Fri, Feb 26, 2016 - 7:11pm
silverwood
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Kilauea, HI
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Agnico Eagle 2015 production results (AEM)

AEM produces quite a bit silver by product.

In 2015 AEM produced 4,258,000 silver oz up from 2014 of 3,564,000 oz a increase of 19.4%

Fri, Feb 26, 2016 - 7:45pm
Wy So Lo
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OZ SA
Australia
Joined: Oct 4, 2015
1096
1807

Silver wood

Not sure whether you saw it or maybe even posted it??? SRSROCCO does an article showing the numbers SMAUL uses are incorrect. The actual government numbers show a decrease in production compared with the gold survey numbers. https://www.zerohedge.com/news/2016-02-26/golds-best-month-4-years-sees-...

Fri, Feb 26, 2016 - 10:38pm (Reply to #230)
silverwood
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Kilauea, HI
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Wy So Lo, I don't see a decline

in silver production if you have been following what I have posted. This data I have posted comes directly from the mining companies' year end report. I have not been able to post all the miners but I have posted a number of the top ten silver producers and most of them are showing an increase or about the same as 2014 silver production, which was a record year for silver production. I am not clear as to why SRSrocco is so confident that those sources of data he is quoting is correct.

ps. I spoke with Barrick gold investor relations and asked them where I could obtain their silver production data for 2015. They told me they don't bother to post silver production numbers because it is "just a byproduct". lol!

Sat, Feb 27, 2016 - 1:44am
Wy So Lo
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OZ SA
Australia
Joined: Oct 4, 2015
1096
1807

.

Sat, Feb 27, 2016 - 2:49am
Wy So Lo
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OZ SA
Australia
Joined: Oct 4, 2015
1096
1807

Just noticed

Gold silver ratio finished week at 83 rising from below 80 at start of week wow. how high can it stretch, surely it is going to roll over or have a major snap back.

Sat, Feb 27, 2016 - 8:19am
Wy So Lo
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OZ SA
Australia
Joined: Oct 4, 2015
1096
1807

Sprott on the daily coin

Mon, Mar 7, 2016 - 8:19pm
Wy So Lo
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OZ SA
Australia
Joined: Oct 4, 2015
1096
1807

this may be a problem

Lanslide in Peru causes Silver to soar.
Sat, Mar 19, 2016 - 2:58pm
silverwood
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Kilauea, HI
Joined: Jun 15, 2011
651
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Had an interesting chat with Avino Silver IR

I spoke with Bill over at investor relations(IR) for Avino Silver. One of the more interesting facts he revealed to me, was that Avino has an ongoing contract with giant Mitsubishi Corp(Mitsu) to sell all of the silver concentrates to Mitsu from their Avino mine, which is about 60% of Avino total 2015 production. FYI, Avino also has the San Gonzalo mine which accounts for the remaining 40% of the companies production. So my question is this an unique relationship? Or are other end users doing similar and thereby avoiding the exchange middlemen? It is also a fact the Mitsu is a giant refining operation that is refining for their own end products.

Sat, Mar 19, 2016 - 7:50pm
Wy So Lo
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OZ SA
Australia
Joined: Oct 4, 2015
1096
1807

Good question

I got an email from Klondike Silver and they are on care and maintenance. They have no forward sales contracts.

If Mitsu have refining capabilities maybe they are a silver wholesaler in addition to their own end use.

Sat, Mar 19, 2016 - 10:48pm (Reply to #237)
silverwood
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Kilauea, HI
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Wy So Lo, About Mitsubishi Corporation

Wy So Lo wrote:

I got an email from Klondike Silver and they are on care and maintenance. They have no forward sales contracts.

If Mitsu have refining capabilities maybe they are a silver wholesaler in addition to their own end use.

Mitsubishi Corporation (MC) has seven Business Groups which develop operations in the diverse fields of Global Environmental & Infrastructure; Industrial Finance, Logistics & Development; Energy; Metals; Machinery; Chemicals; and Living Essentials. In addition to these Business Groups, MC has also recently established its Business Service Group. Through these business groups and more than 600 subsidiaries and affiliates, MC serves customers around the world in virtually every industry.

Sun, Mar 20, 2016 - 2:34am (Reply to #238)
Wy So Lo
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OZ SA
Australia
Joined: Oct 4, 2015
1096
1807

silverwood wrote: Wy So Lo

silverwood wrote:
Wy So Lo wrote:

I got an email from Klondike Silver and they are on care and maintenance. They have no forward sales contracts.

If Mitsu have refining capabilities maybe they are a silver wholesaler in addition to their own end use.

Mitsubishi Corporation (MC) has seven Business Groups which develop operations in the diverse fields of Global Environmental & Infrastructure; Industrial Finance, Logistics & Development; Energy; Metals; Machinery; Chemicals; and Living Essentials. In addition to these Business Groups, MC has also recently established its Business Service Group. Through these business groups and more than 600 subsidiaries and affiliates, MC serves customers around the world in virtually every industry.

No wonder they are securing supply at the mine. Imagine if their bullion dealer said ,we are all out of silver but we expect to get some in by next year. ha.

Sun, Mar 20, 2016 - 7:10pm
silverwood
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Kilauea, HI
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651
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2015 Primero mining silver production results

Primero mining (PPP) produced 8,120,000 oz of silver for 2015 that was up from 5,940,000 in 2014 and 6,050,000 in 2013. For the full report..

.https://www.primeromining.com/English/investors/news/press-release-detai...

Sun, Mar 20, 2016 - 7:13pm
silverwood
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Kilauea, HI
Joined: Jun 15, 2011
651
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2015 Primero mining silver production results

OPPS DOUBLE POST, SOO SORRY!

Primero mining (PPP) produced 8,120,000 oz of silver for 2015 that was up from 5,940,000 in 2014 and 6,050,000 in 2013. For the full report..

.https://www.primeromining.com/English/investors/news/press-release-details/2016/Primero-Reports-Fourth-Quarter-and-Full-Year-2015-ResultsRecord-Revenues-Drive-Increased-Cash-Flows/default.aspx

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