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 The natural properties of silver |
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Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. It has a relative atomic mass of 107.870, a melting point at 960.8℃, a boiling point at 2210℃, a density of 10.50 g/cu.cm.(at20℃), a fusion heat at 11.40 kJ.mol and a heat of vaporization at 25.20 KJ.mol……[more] |
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| Main use of silver |
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Silver has currency function, and like gold, it was used as currency for a long period of time in human history. Gold standard was once adopted in the history of world currencies, but silver standard was never adopted. Silver faded out of circulation due to reforms in the monetary systems and the emergence of currencies backed by credit. Nowadays, minted silver coins are mainly used for investment or commemorative purposes. In addition, investment in other silver objects such as silver bullion has been continuously increasing……[more] |
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The international silver market |
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| World silver production |
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Silver production is mainly categorized into mining and recycling. Since most silver mineral resources are mixed with other minerals, mined silver can be produced from an independent silver mine or as a byproduct of refining copper, lead, zinc and other base metals. Recycled silver are collected from solid waste containing silver (such as waste residue, scrap, etc.) or from plating solution for treatment of precious metal surface and from waste fixing solution in photographic industry……[more] |
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| World silver consumption |
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Globally, silver is used mainly in industrial manufacturing, the photographic industry, and for making jewelry, silverware, silver coins and seal (demand for silver arising from financial investment is excluded here). Silver demand from the photography industry, traditionally a major consumer of the metal, has been declining due to the development of digital technology, but still, there’s a certain proportion of silver demand coming from this sector. Silver demand from industrial manufacturing and the jewelery industry are generally rising, fuelled by economic growth, while industrial demand is highly subject to economic volatility……[more] |
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| World silver trade |
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World silver trades concentrate in countries and regions including the United States, Britain, Japan, India, Italy, China, Hong Kong and mainland China. London is the global center for silver trade, while New York is the global center for silver trading. London is home to the London Bullion Market Association (LBMA), the world's largest market for silver spot trading, while COMEX, one of the most important markets for gold and silver trading, is based in New York……[more] |
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| Silver production |
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China's silver production comes mainly from byproducts of copper, lead and zinc, with the remainder coming from recycling and independent silver mines. Domestic silver production has increased along with a surge in the production of copper, lead and zinc. China’s main producing provinces for refined lead are Henan, Hunan and Yunnan, while refined copper mainly comes from Jiangxi, Anhui and Yunnan. Therefore, the main silver producing provinces are still concentrated in places like Hunan, Henan, Yunnan and Jiangxi.……[more] |
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| Silver consumption |
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Traditionally, silver was used as currency and for the production of handicrafts and jewelry. With the rise of industrialization in modern times, the use of silver has been extended to industries including photography, electronics, national defense, aerospace and pharmaceutical, becoming an important member in the family of industrial metals and playing a pivotal role in the national economy.……[more] |
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| Silver import and export |
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After the opening of the silver market on January 1, 2000, policies regulating China's silver industry were mainly adopted in the area of trade and circulation, with the specific policy being the import and export policies.……[more] |
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Major domestic and foreign silver markets |
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Trends of silver prices and factors |
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| Price movements on international markets |
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| Silver is one of the most volatile commodities in international markets. In the early 1970s, silver prices lingered around $ 2 / ounce, and started climbing in 1973, reaching a historic high of 50.35 U.S. dollars / ounce on January 21, 1980. The price surge during the period was mainly the result of market manipulation by the Hunt brothers. Silver prices then trended lower during the 1980-2001 period, and fluctuated at low levels, reaching as low as $ 3.55 / ounce in 1993. Over the past decade, international silver prices were in an upward trend, with market turning bullish in 2002. Gains in silver prices accelerated in 2005, exceeding $ 20 / ounce in mid 2008. World commodity prices slumped in the second half of 2008 due to the global financial crisis……[more] |
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| Trends of silver prices in domestic markets |
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Domestic silver prices have generally been in the upward tend in recent years. Silver prices were at about 3600 yuan / kg in early 2007, and then started climbing, exceeding a high of 5000 yuan/kg in March, 2008. Silver prices slumped after the global financial crisis broke out, falling below 2300 yuan/kg in December, 2008. Domestic silver prices began rising steadily after the roll-out of loose monetary policies and proactive fiscal policies, reaching as high as 10788 yuan/kg in April, 2011. Then, affected by international markets.……[more] |
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| Factors affecting silver prices |
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| Supply and demand is the fundamental determinant of silver prices. Price would typically fall when supply exceeds demand, and when demand outstrips supply, prices would rise. Price fluctuations would in turn affect demand and supply – when prices rise, supply would increase while demand would decrease, and when prices fall, demand would increase and supply would decrease. Factors affecting production and supply include the discovery and excavation of new mines, the application of new technology, overhaul as well as strikes at producers, and import and export policies.……[more] |
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