On July 26, at the 2016 China International... Gold At the conference, Philip, Managing Director of UK Metal Focus Ltd., introduced the “Global Silver Yearbook 2016 (Chinese Edition)” at the authoritative information release forum. According to the yearbook’s data: In 2015, the global total supply of silver was 32,461 tons, while the total global demand for silver reached 33,254 tons. Among these figures, due to... Silver jewelry Driven by strong performance—typically price-driven—in silverware (particularly in physical silver investments)—total demand rose by 4%.

　　In 2015, the global total supply of silver was 32,461 tons, a decrease of 421 tons compared to last year's 32,882 tons. Among this total, primary silver production rose to 27,408 tons, reaching yet another all-time high. However, the year-on-year growth rate was only 0.5%, a significant slowdown from previous rates. For example, between 2014 and 2015, annual production had grown by an average of 4%, adding 4,048 tons to the supply in just five years. Nevertheless, despite... Silver price The decline is due to the continued increase in production resulting from the expansion of pilot production for the project; meanwhile, silver production—originally a byproduct of gold and copper mining—remains on an upward trajectory.

　　Silver supply has declined due to a sharp drop in zinc-lead ore production, which in turn has been affected by the closure of several key mines and China’s stricter environmental legislation.

　　In 2015, the supply of recycled silver fell to 4,893 tons, representing a decline of 7%. Among these, the supply of recycled silver from silverware and jewelry experienced the largest drop, driven by falling silver prices and a sharp reduction in quasi-market inventories. The supply of recycled silver from the photography industry also declined somewhat, primarily due to the long-term reduction in silver consumption for film, photographic paper, and medical X-ray films. As the world’s largest segment for recycled silver supply, the quantity of industrial scrap silver also saw a slight decrease.

　　In 2015, total silver demand reached 33,254 tons, an increase of 1,275 tons from last year’s 31,979 tons. Among this, industrial demand for silver remained essentially flat year-on-year, slightly below 14,300 tons. Despite the ongoing global economic recovery, industrial users continued to reduce their silver consumption in order to cut costs, thereby restraining demand growth. Given the gloomy economic outlook for 2016—particularly affected by the uncertain prospects for China’s economy—original equipment manufacturers adopted a cautious approach to inventory management, which negatively impacted industrial demand for silver. Meanwhile, demand from the electronics and electrical appliance manufacturing sector experienced a moderate decline in 2015, falling by 1%; similarly, demand for silver brazing alloys and solder also showed a comparable downturn.

　　In 2015, demand for silver jewelry rose by 4%, reaching 6,138 tons. India accounted for a significant share of this growth, as weaker prices stimulated demand; meanwhile, Italian exports and... U.S. consumption ( Love base , Net asset value , Information ) As demand for silver jewelry in Western markets has risen along with increased production, China’s demand for silver jewelry has plummeted due to ongoing market restructuring, a slowdown in local economic growth, and negative impacts on food consumption. Silverware production rose by 8% to 1,698 tons, with nearly all of the growth coming from India.

　　Meanwhile, physical silver investment surged to a historic high of 9,798 tons, representing an increase of 11%. With the exception of China, all major markets saw growth, with India and the United States recording the largest increases. In particular, India’s investment has grown for the fifth consecutive year, driven primarily by... Power source ( 12.74 +1.11% , Buy Another factor contributing to the anticipated eventual rise in silver prices is the arbitrage opportunity between spot prices and futures prices, which has prompted some large investors and gold-and-silver traders to purchase physical silver and reap profits. In the U.S., as people rush to buy at lower prices, demand has surged by 9%, nearly reaching the peak levels seen in 2013.

　　Metal Focus forecasts that the average price of silver this year will be $16.20. U.S. dollar /ounce, as the consulting firm believes that silver prices will undergo an adjustment in the short to medium term and rebound at some point in the second half of the year.