Silver supply/demand historical and current

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Sun, Mar 20, 2016 - 9:44pm (Reply to #240)
Wy So Lo
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That is a huge increase

Are they doing the right thing increasing supply while prices are so lo. Ok they are Canada so price of silver is low 20s. Highgrading? either way it may be a significant decision in hindsight.

Thu, Mar 24, 2016 - 7:21pm
Wy So Lo
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Wall street journal

Mining industry lost more money last year than it made in the last 8 years.

Fri, Apr 1, 2016 - 4:04pm
silverwood
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Silver spinning wheel

“Silver Spinning Wheel”
What goes up, must come down

Janet Yellen nothin’ but a clown

Talkin’ ’bout the economy, it’s a cryin’ sin

Buy some Silver Eagles, let the spinning wheel spin

If you got no real money, you got no home

Your buying’ silver, all alone

Talkin’ ’bout the trouble and, you never learn

Buy those Silver Eagles, let those sheeple all burn

Will they find a directing sign on the straight and narrow highway?

Would you mind reflecting a sign?

Just let it shine within your mind

And show them gold and silver are real

Someone is waiting just for you

Stackin’ silver spinning through

Droppin’ the prices on Comex tide

Catch some Silver Eagles on the spinning wheel ride

Ha!

Someone’s waiting just for you

Spinning prices spinning through

Drop all your fiat by the riverside

Buy some Silver Eagles, let the spinning wheel fly

ps. Happy Aprils fools day!

Wed, Apr 6, 2016 - 4:03am
Wy So Lo
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Not sure if you saw this

https://youtu.be/R7enXdJAuHA Jim Rickards talks first hand experience with Gold bar supply Great interview.

Mon, Apr 18, 2016 - 5:08pm
Boswell
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Apple's Gold/Silver/etc Recycling

This just popped up... I guess Apple sent out a press release or something?

In its annual environmental report released this week, Apple said it recovered 2,204 pounds (more than a ton) of gold from recycled iPhones, iPads and Macs last year. That's $40 million worth.

Apple (AAPLTech30) said it also collected 23 million pounds of steel; 13 million pounds of plastic; 12 million pounds of glass; 4.5 million pounds of aluminum; 3 million pounds of copper; and 6,600 pounds of silver.

A ton of articles... Pick one.

https://www.google.com/search?q=apple+gold+recycling&oq=apple+gold+recycling&aqs=chrome..69i57.9734j0j1&sourceid=chrome&ie=UTF-8

Does this make them a "mining stock"??? ;-)

Mon, Apr 18, 2016 - 9:45pm
Wy So Lo
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Excellent

Article by Cal Lawyer on the home page if you missed it , regarding the class action with DBank et al . Fantastic read Cal Lawyer Thanks.

Tue, Apr 26, 2016 - 3:15pm
silverwood
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This is worth a listen.

Jeff seems bullish...https://www.bnn.ca/Video/player.aspx?vid=856990

Well main street media has to put in this ridiculous statement...Silver is hot, but watch out — it traded for years near US$5/oz: CPM Group...after all we can't let the sheeple get too excited can we? Oh yah! beware gold traded at $20.67 for many years also!

My question is Andrew just a complete moron?

Tue, Apr 26, 2016 - 8:17pm (Reply to #248)
Wy So Lo
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Zerohedge

Thu, May 5, 2016 - 1:56pm
silverwood
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Exceptional Growth in Key Sectors Leads to Record High Silver De

Silver News, Press Releases & Events

Exceptional Growth in Key Sectors Leads to Record High Silver Demand in 2015

Jewelry, Coin and Bar, and Photovoltaic Demand Reach Historic Levels

(New York City – May 5, 2016) The silver market saw record demand in 2015, with the jewelry, coin and bar, and photovoltaic sectors posting new highs, helping to boost total silver demand to 1.17 billion ounces last year. Overall silver supply to the market was lower, led by the continued weakness in silver scrap sales. Last year’s supply and demand scenario led to the third successive annual silver market deficit, reaching 129.8 million ounces (Moz), more than 60 percent larger than 2014 and the third largest on record. These findings, and other components of the silver market, are discussed in World Silver Survey 2016, released today by the Silver Institute and produced on its behalf by the GFMS Team at Thomson Reuters (GFMS).

Silver Demand

Globally, silver jewelry fabrication increased for the third consecutive year to post a fresh high at 226.5 Moz. This increase was largely achieved on the back of an impressive 16 percent rise from both India and Thailand, while North America posted a 5 percent annual increase. These gains were partially offset by a sizable contraction in Chinese jewelry offtake. Total silverware fabrication enjoyed its third successive annual rise to an estimated 62.9 Moz, a ten-year high.

The largest component of physical silver demand, industrial applications, which accounted for 50 percent of total physical silver demand last year, was 4 percent lower, totaling 588.7 Moz. This drop was largely due to weaker fabrication demand in developing countries and a stagnant global economy. On a regional basis, modest increases in industrial demand were posted in the United States and Japan, the second and third largest sources of industrial demand, respectively. Electrical and electronics use declined by 10 percent last year to 246.7 Moz, due to slower economic growth in developing countries and the continued weakness in computer sales.

There were several highlights within the industrial segment. Silver demand for photovoltaic applications rose 23 percent in 2015 to 77.6 Moz, marking the second consecutive year of increases in this sector, driven by strong growth in Chinese solar panel installations. Silver demand for ethylene oxide (EO) grew an impressive 103 percent to 10.2 Moz. GFMS estimates that 137.5 Moz of silver resided in EO plants around the world at year-end 2015, equivalent to 16 percent of last year’s silver mine production.

Silver’s use in brazing alloys and solders fell by 5.0 Moz and photography demand slid by 4 percent last year. The pace of decline in photography slowed considerably, to its lowest rate since 2004, as digital technology in the photography industry approaches maturity.

World Silver Supply and Demand (million ounces)
(totals may not add due to rounding)

Supply

2014 2015

Mine Production 868.3 886.7

Net Government Sales – –

Scrap 168.3 146.1

Net Hedging Supply 16.8 7.8

Total Supply 1,053.3 1,040.6

Demand

2014 2015

Jewelry 224.0 226.5

Coins & Bars 236.1 292.3

Silverware 60.7 62.9

Industrial Fabrication 611.2 588.7

…of which Electrical & Electronics 263.4 246.7

…of which Brazing Alloys & Solders 66.1 61.1

… of which Photography 48.5 46.7

… of which Solar 63.2 77.6

… of which EO 5.0 10.2

 … of which Other Industrial 165.1 146.4

Physical Demand 1,131.9 1,170.5 

Physical Surplus/Deficit -78.6 -129.8

ETF Inventory Build 1.5 -17.7

Exchange Inventory Build -8.8 0.3

Net Balance -71.3 -112.5

Silver Price, $per oz. 19.08 15.68

Silver Investment & Price

Identifiable investment, which includes physical bar investment, coins and medals, and exchange traded product (ETP) build, climbed 16 percent to a near record high in 2015. Silver coin and bar investment surged 24 percent to reach 292.3 Moz, the highest annual demand level in GFMS’ records, overtaking the previous high in 2013. Coin and bar demand accounted for 25 percent of total physical demand in 2015, the highest market share on record and up from just 5 percent a decade earlier. Silver coin and medal demand amounted to 134.1 Moz of demand last year due to unprecedented growth in several key markets, notably the United States and India.

Holdings in silver-backed ETPs declined by 17.7 Moz in 2015, finishing the year at 617.8 Moz. However, demand in this investment category has rebounded with ETPs reaching 640.0 Moz at the end of the first quarter 2016.

An extremely challenging year for nearly all commodities, along with a continued slowdown in Chinese economic growth and a stronger U.S. dollar, led to a lower average annual silver price of US$15.68/oz in 2015. However, this lower price environment helped to boost physical demand, particularly as long term investors viewed lower prices as key entry points in expectation of future price appreciation.

Silver Supply

Global silver mine production growth slowed to 2 percent in 2015 and reached a record 886.7 Moz. The mine production growth was attributable to stronger output in Peru, Argentina, Russia and India, while Canada, Australia and China had lower mine production, with the latter decreasing output by 3 percent. Primary silver mine production grew 5 percent, and accounted for 30 percent of global silver mine supply. The overall slowdown in mine production last year is expected to continue.

Primary silver co-product cash costs plus CAPEX fell by 11 percent to US$11.74/oz. This drop was driven by weaker local currencies, aggressively lower CAPEX, and lower fuel prices. The producer silver hedge book grew by 7.8 Moz in 2015, as fresh hedging more than offset maturing contracts.

Scrap supply was significantly down by 13 percent at 146.1 Moz, the lowest volume level recorded since 1992 and the fourth consecutive year of decline. Behind the decline were fewer collectors active in the market and some holding back material awaiting higher prices. Government sales of silver were again essentially nonexistent.

About the World Silver Survey, the Silver Institute and Survey Ordering Information

The Silver Institute has published this annual report on the global silver market since 1990, to bring reliable supply and demand statistics to market participants and the general public. The 26th edition of the Silver Institute’s World Silver Survey was independently researched and compiled by the GFMS team at Thomson Reuters. World Silver Survey 2016 was sponsored by 18 companies and organizations from North and South America, Europe and Asia. These firms are involved in most aspects of the global silver industry, from mining and refining to trading and manufacturing. Founded in 1971, the Silver Institute is an international industry association. Its members include leading silver producers, refiners, manufacturers and dealers.

*and from the horses mouth*

https://www.kitco.com/news/video/show/Kitco-News/1254/2016-05-05/Fundame...

Thu, May 5, 2016 - 3:39pm
silverwood
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Supply and demand revision?

I follow the silver institute's reporting and I did not see any revised data notices posted! What I am referring to is the 2014 and 2015 numbers just released and viewable in the above post and this chart ...https://www.silverinstitute.org/site/supply-demand/. So here is what I see: 

Mine production for 2014 in the press release 868.3 in their chart from the link 877.5

Net hedging for 2014 16.8 vs. 15.8 is this just sloppy work or was net hedging increased by 1 million ounces?

Total supply 1053.3 vs. 1061.8 making the 1040.6 for 2015 less dramatic!

Regarding demand jewelry 224.0 vs 215.2 coin and bar 236.1 vs 196.0. I know that this has been discussed as that they now include non industrial bars and rounds in their figures.

Industrial fabrication 611.2 vs. 594.9... wtf?

Physical demand 1131.9 vs. 1066.7 what this number shows that the decline in demand from their chart from 2013 of 1112.4 did not happen so the trend has been rising continuously!

* so there you have it....OH WHAT TANGLED WEB YOU WEAVER WHEN YOU PRACTICE TO DECEIVE!

Sun, May 15, 2016 - 5:10pm
silverwood
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This new silver application may push demand higher...

This new silver application may push demand, prices even higher...https://www.mining.com/this-new-silver-application-may-push-demand-price...

Sun, Jun 26, 2016 - 10:39pm
silverwood
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21 Incredible uses for silver

[INFOGRAPHIC]: 21 Incredible uses for silver 

Most of them will surprise you. 

Bullionvault | 21 June 2016 15:24

https://www.mineweb.com/news/silver/infographic-21-incredible-uses-silver/

Sun, Jun 26, 2016 - 11:37pm
Wy So Lo
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,,

Good stuff SW thanks.

Sat, Jul 16, 2016 - 1:09pm
silverwood
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Silver Prices Are Ripe For An Increase

Saturday, July 16, 2016

Silver Prices Are Ripe For An Increase (As They Always Were)

There are three places in the world where the biggest amount of silver is stored. These places are:

Sat, Jul 16, 2016 - 1:28pm
silverwood
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American Silver Eagle supply/demand situation

https://www.coinworld.com/news/precious-metals/2016/07/authorized-purcha...

Highlights are:

Buyers of U.S. Mint's American Eagle silver bullion coins are sitting on stockpiles

Cut U.S. Mint orders, buying on secondary market instead

WHAT ARE THE AUTHORIZED PURCHASERS SAYING ABOUT THE SILVER BULLION SITUATION?

Terry Hanlon, president of the Dillon Gage Metals Division in Addison, Texas, says there are a lot of sellers into the market with silver prices rising. There have also been a lot of sellers of gold into the market as well, he said.

Hanlon said distributors have been stockpiling American Eagles and other silver bullion issues, to enable immediate delivery to the customers that order them, after several were running behind in delivery earlier in the year.

APs and other major distributors have loaded their inventories with bullion issues preferred by investors, so as not to be caught without sufficient supply to meet anticipated demand, Hanlon said, but now "most APs are ordering less because they have inventory that they don't need right away." 

Josh Wagoner, general manager of the The Gold Center in Springfield, Ill., says with the spot price of silver rising, his firm, too, has witnessed increasing selling, not buying, by investors. With the rising prices, some larger secondary market buyers and distributors have also reduced their buying, so as not to be caught with a lot of inventory at the top of the market.

Wagoner said he's seen the drop in investment buying over the past 45 to 60 days.

Last fall, when silver was $13 or $14 an ounce, Wagoner said, it didn't make much difference how high the premium was. Investors wanted the product, which was not easily available.

"I don't think the demand will catch up with what the Mint is putting out," Wagoner said concerning the Mint's American Eagle silver bullion coin inventory. "Something has to give to be able to handle the supply the Mint has available."

The U.S. Mint's sales to authorized purchasers are not necessarily indicative of investor demand, says Ken Lewis, chief executive officer of APMEX in Oklahoma City.

“Overall, silver sales have been somewhat softer during these early summer months compared to last year when silver was selling at an unprecedented level," says Lewis. "Despite this softer period, we continue to see the silver American Eagle perform extremely well and even gain share within our business year-over-year and especially over the last few weeks.

"Oftentimes, U.S. Mint production numbers are not necessarily reflective of current retail demand and market conditions, as many Authorized Purchasers order above actual demand and build up inventory throughout the year until they can no longer absorb the full product available from the Mint.” 

 

Sun, Jul 17, 2016 - 11:06pm
HappyNow
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Thanks Silverwood.  One

Thanks Silverwood. 

One cannot forget the huge source of elastic demand that the private phys buyers represent. AAll those monster boxes are ready refined inventory and can return to the market in a jiffy.

it is interesting that this price rise is bringing out the sellers of phys. For all that paper price is said to not represent the true market yet here where phys is the only trade there are more buyers than sellers here at this price.

Swing trade indexed ETFs. Long physical gold, silver, and 1 miner.
Thu, Jul 28, 2016 - 2:40am
silverwood
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"The Fantastic World of Silver"

Silver Institute's Michael DiRienzo - "The Fantastic World of Silver"

Silver Institute's Michael DiRienzo - "The Fantastic World of Silver"
Mon, Aug 22, 2016 - 4:42pm
silverwood
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Excellent visualization on copper demand

30 Years of World Copper Consumption in 5 Minutes

This is an excellent video...https://www.youtube.com/watch?v=ft_nzNtMVaE

Increasing copper demand/supply will result in increasing silver supply!

Tue, Oct 4, 2016 - 4:34pm
silverwood
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So where is the supply of metal going?

Given the following article where does one feel the the supply of gold, silver and base metals going?

North American Golds Face Latin American Minefields

It's not only Barrick Gold (NYSE:ABX) that has been facing problems with Latin American regulators and local communities over its third biggest gold mine -- Veladero in Argentina -- but other major gold miners are also facing some difficulties with major key projects throughout Latin America. Thought processes and economic priorities are not always in sync as miners have often found out to their cost. The miners may feel that they are bringing huge economic benefits, but local communities do not always see things in this way, which the profit-driven mining companies sometimes find difficult to deal with. Minor problems to them may become major ones in the eyes of locals.

Barrick has also faced continuing regulatory and cost escalation problems over its huge Pascua Lama project on which it has reportedly already spent $5 billion and is still nowhere near building anything operational having put the project on the back burner three years ago and here the regulatory and community relations problems have been on both sides of the Argentinean and Chilean borders, which the project straddles. The company is now reportedly investigating a much smaller-scale underground mine on the Argentinean side with a view to generating some cashflow towards developing the much bigger open pit project when it deems the timing right. However the Veladero problem will not have helped the company's relationships with the San Juan provincial authorities although, as with Veladero it is likely that financial factors will win the day given the importance of such a project to the local economy.

Ironically, the new Argentinean Government is actually more positively disposed towards mining than its predecessor. Most of the problems being faced are from less mining-friendly Provincial administrations and local communities, often stirred up by anti-mining NGOs. That is something of a pattern the world over and one the mining companies need to be able to counter so it is imperative that they are seen to behave with the utmost accountability -- and Barrick's latest problem, in that it delayed reporting an admittedly small cyanide leakage for a few days, will not have helped big mining's perception.

Other major Latin American problems being faced by the mining sector in Latin America include: World No. 2 gold miner, Newmont (NYSE:NEM)'s major, and still unresolved, problems with the local communities over its massive Conga project in Peru and the company is now also facing a legal challenge over ownership of its flagship Peruvian gold mine, Yanacocha: North America's third largest gold miner, Goldcorp (NYSE:GG), is currently facing a blockade of its biggest mine, Penasquito, in Mexico, and has announced a consequential "controlled shutdown" of the mine -- whatever that may be -- although the company says that it does not expect this to impact overall production and cost guidance for 2016: North American No. 4 gold miner, Kinross Gold (NYSE:KGC) has been facing problems over water rights at its Maricunga mine in Chile and, has reportedly had to shut it down. Indeed a recent Reuters report suggested that Kinross was looking at pulling out of Chile altogether and disposing of its mining assets in the country: The No. 6 North American gold miner, Yamana Gold (NYSE:AUY) has Argentinean problems of its own with the local community around its big Agua Rica copper/gold/silver/molybdenum development project in Catamarca Province insisting that open pit mining is banned in the area, as well as an ongoing legal challenge regarding its nearby Alumbrera project, which could also prove costly should it go against the company, which it appears as if it may do, although Yamana disputes this.

There are a number of other countries in Central and South America where North American and other gold mining companies have faced opposition and project shutdowns. Part of the problems facing the companies appear very much to be down to fractured relationships with the local communities -- some seemingly through pure arrogance on the part of the mining companies and others possibly through misunderstandings, but these can all prove costly not only in terms of increased costs, potential financial rulings against the companies involved and project delays and disruptions.

What all this means for investors in mining companies operating throughout Latin America is that it is imperative to look for those with good social records as local communities can make mining difficult, or even impossible, if they are at loggerheads with the mining companies. As in Argentina, semi-autonomous Provincial authorities are often just as important, or more so, as the Federal Government in permitting operations. Bringing jobs and increased prosperity to an area, which many miners think is enough for maintaining relationships with local communities and provincial and federal administrations may prove to be totally insufficient to guarantee a smooth ride. There are nonetheless plenty of major miners, which are mining successfully on the subcontinent without any disruptive occurrences, but even these need to be on their guard against damaging an existing satisfactory community relationship.

for the rest of the story...https://seekingalpha.com/article/4010096-north-american-golds-face-latin...

Sat, Dec 31, 2016 - 1:26am
silverwood
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As we exit 2016 $Silver still in a bear market

The follow chart is silver going back to January 1981 to date. What is of interest is that silver is in a bear market when it is trading below the 50 month moving average. You can see silver made a test of the 50 month(ma) but has been repelled. It current stands at 19.20 and is falling. It sure looks like we can trade above that ma sometime in 2017. I going to make my 2017 prediction here...Silver will resume it's bull market in 2017!!! Happy New Year and Hi HO silver!!!

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