GlobeNewswire

Silver Industrial Demand Rebounded in 2017; Mine Supply Recorded Second Consecutive Loss

Dela
NEW YORK, April 12, 2018 (GLOBE NEWSWIRE) -- Industrial demand for silver, fueled by record photovoltaic growth, rose in 2017 for the first time since 2013. A stronger global economy led to healthy demand from the semi-conductor market, resulting in greater silver offtake in electrical and electronics applications as well as brazing alloys and solders. The jewelry and silverware sectors also experienced noteworthy gains in 2017. On the supply side, global mine supply fell for the second consecutive year, following an uninterrupted streak of 13 annual increases prior to 2016. Silver scrap supply, which has been in retreat since 2012, again registered a loss. These factors led to a tightening of the supply/demand balance, contributing to a physical deficit of 26 million ounces (Moz) in 2017, the fifth consecutive annual deficit.

These findings, along with other key segments of the silver market, are discussed in World Silver Survey 2018, released today by the Silver Institute and produced on its behalf by the GFMS Team at Thomson Reuters (GFMS).

Silver Industrial Demand

Global silver industrial fabrication demand returned to growth in 2017, increasing 4 percent to 599.0 Moz. This was the first rise in silver industrial fabrication since 2013. This growth was bolstered by another year of impressive photovoltaic demand, rising 19 percent in 2017, the result of a 24 percent increase in global solar panel installations. Brazing alloy and solder silver fabrication recorded a 4 percent annual rise to 57.5 Moz, boosted mainly by solid growth from China and Japan. 

The surge in electronics, most notably in semi-conductor fabrication demand, led to the electrical and electronics segments delivering the first annual increase in offtake in this category since 2010, with 242.9 Moz consumed last year. Silver demand for the production of ethylene oxide retreated by a third from 2016 volumes to 6.9 Moz, mostly due to a decline in new installations. GFMS estimates that silver's use in photography, which fell by 3 percent last year to 44.0 Moz, appears to have stabilized, with renewed interest in various photographic applications utilizing silver, only falling marginally over the last few years.

Silver Jewelry and Silverware Demand

Silver jewelry demand moved 2 percent higher in 2017 to 209.1 Moz. India was chiefly responsible for the gain, rising 7 percent over 2016 volumes. Demand also picked up strongly in North America, with the United States posting a 12 percent rise to an all-time high. Global demand for silverware jumped by 12 percent last year to 58.4 Moz, led by a strong recovery in demand from India, which experienced a 19 percent increase. North America also posted solid gains, rising 5 percent to 1.6 Moz.

Silver Supply

Global silver mine production fell by 4.1 percent in 2017, experiencing its second consecutive annual decline to record 852.1 Moz. The decline was mainly credited to a series of supply disruptions across the Americas. Another leading factor in the drop was due to the primary silver and gold sectors, where production fell by a combined 29.4 Moz. Of the key producing countries, Peru and China registered subtle dips, followed by more acute losses in Australia and Argentina. Offsetting those losses was higher output from Mexico, which was once again the world's top silver producing country, trailed by Peru, China, Russia and Chile.

Supply from primary silver mines decreased by 9 percent in 2017 to contribute 28 percent of total mine supply. The lead/zinc sector contributed 36 percent of by-product output, followed by copper at 23 percent and gold at 12 percent.

Silver scrap supply fell to 138.1 Moz, marking its sixth successive yearly decline.  Lower scrap flows from Asia, mainly China, driven by a lack of incentives from both suppliers and consumers to recycle their valuables, is chiefly responsible for the fall. Supply from the western world was marginally higher, driven by increased volumes from the United States and Europe.

Above-ground stocks rose 3 percent last year. Of the four exchanges that report silver stocks, three saw total silver inventory growth of 2 percent in 2017; COMEX in the United States, the SHFE and the SGE in China. In contrast, silver inventories held at TOCOM declined dramatically by 98 percent, driven by strong industrial demand in Japan.

GFMS reports that government sales of silver were once again absent from the silver market in 2017. Lastly, in the supply category, the delta-adjusted hedge book inched higher by 1.4 Moz, ending last year at 21.5 Moz.

Silver Price and Investment

The annual average silver price fell by a slight 0.5 percent to $17.05/oz last year, with prices trading in a $15.22/oz - $18.56/oz range.  That said, last year's average silver price represents an 8.7 percent increase over the average posted just two years ago of $15.68/oz. 

Identifiable investment, which consists of net-physical bar investment, coins and medals purchased, and net-changes to exchange traded product (ETP) holdings, reached 153.5 Moz in 2017 a 40 percent decline from the previous year. This was primarily the result of a 35 percent decline in coin and medal fabrication, led by lower demand in the United States, Canada and China. Physical bar demand slipped by 16 percent last year. 

In contrast, total global ETP holdings increased by 2.4 Moz to finish 2017 at 669.8 Moz. In value terms, total ETP holdings increased 4 percent to $11.3 billion, as the silver price advanced throughout the year.

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 dependable supply and demand statistics to market participants and the public.The 28th edition of the Silver Institute's World Silver Survey was independently researched and compiled by the GFMS team at Thomson Reuters. World Silver Survey 2018 was sponsored by 20 companies and organizations from North and South America, Europe and Asia. 

Copies of World Silver Survey 2018 are available to the media upon request, and a PDF version can be downloaded from the Institute's website at www.silverinstitute.org. In North America, hard copies may be purchased by the public from the Institute's website; for copies outside North America, please contact the GFMS team at Thomson Reuters via GFMS@thomsonreuters.com.

Contact Michael DiRienzo, The Silver Institute  Johann Wiebe, GFMS Team at Thomson Reuters
  +1 202-495-4030 (O)  +1 312-408-8761 (O)
  mdirienzo@silverinstitute.org  johann.wiebe@thomsonreuters.com



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: The Silver Institute via Globenewswire

Om

GlobeNewswire



Följ GlobeNewswire

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från GlobeNewswire

Karolinska Development's portfolio company Aprea Therapeutics has received FDA Orphan Drug Designation and Fast Track Designation for APR-24616.4.2019 12:46:00 CESTPressmeddelande

STOCKHOLM, April 16, 2019. Karolinska Development's portfolio company Aprea Therapeutics has from FDA received an Orphan Drug Designation for APR-246 for the treatment of patients with Myelodysplastic Syndromes (MDS) having a TP53 mutation. In addition, FDA has also granted Fast Track Designation to APR-246 for treatment of MDS. Orphan Drug Designation is granted by the FDA Office of Orphan Products Development to advance the evaluation and development of safe and effective therapies for the treatment of rare diseases. The designation can provide development and commercial incentives for designated compounds and medicines, including eligibility for a seven-year period of market exclusivity in the U.S. after product approval, FDA assistance in clinical trial design, tax credits related to clinical trial expenses, and an exemption from FDA user fees. The FDA's Fast Track program facilitates the development of drugs intended to treat serious conditions and that have the potential to addre

Karolinska Developments portföljbolag Aprea Therapeutics har fått särläkemedelsstatus och snabbspårstatus från FDA för APR-24616.4.2019 12:46:00 CESTPressmeddelande

STOCKHOLM, SVERIGE - 16 april 2019. Karolinska Development AB meddelar idag att portföljbolaget Aprea Therapeutics har av FDA fått särläkemedelsstatus för APR-246 för behandling av patienter med TP53-muterad myelodysplastiskt syndrom (MDS). Dessutom ger FDA bolaget snabbspårstatus (Fast Track Designation), för APR-246 för behandling av MDS. Amerikanska läkemedelsverket, FDA, ger särläkemedelsstatus till läkemedelskandidater för att snabba på utvärderingen och utvecklingen av säkra och effektiva behandlingar av ovanliga sjukdomar. Särläkemedelsstatus ger företag både regulatoriska och kommersiella incitament genom att läkemedlet får marknadsexklusivitet på den amerikanska marknaden i sju år efter marknadsgodkännande samtidigt som företaget får stöd från FDA när det gäller designen av kliniska prövningar, skatteförmåner för kostnader kopplade till kliniska prövningar och avgiftsbefrielse från FDA. FDA:s snabbspår underlättar utvecklingen av läkemedel som är avsedda för att behandla allva

Bergman & Beving AB: Bergman & Beving förvärvar KGC10.4.2019 14:00:00 CESTPressmeddelande

Pressmeddelande Bergman & Beving förvärvar KGC Bergman & Beving har idag tecknat avtal om förvärv av samtliga aktier i KGC Verktyg & Maskiner AB. KGC, med säte i Älvsjö, har i mer än 60 år utvecklat och levererat kvalitetsverktyg och tillbehör för murning och plattsättning i det egna varumärket KGC. Bolaget omsätter cirka 80 MSEK per år, och har 24 anställda. "KGC är ett ledande varumärke med högt anseende hos murare och plattsättare och har en mycket stark ställning på den svenska marknaden", säger Pontus Boman, VD och koncernchef. Tillträde beräknas ske den 1 maj 2019 och förvärvet bedöms ha en marginellt positiv påverkan på Bergman & Bevings resultat per aktie under innevarande räkenskapsår. Stockholm den 10 april 2019 Bergman & Beving AB (publ) För ytterligare information kontakta: Pontus Boman, VD & Koncernchef, telefon 010-454 77 00 Peter Schön, CFO, telefon 070-339 89 99 Denna information lämnades, genom ovanstående kontaktpersoners försorg, för offentliggörande den 10 april 201

Bergman & Beving AB: Bergman & Beving acquires KGC10.4.2019 14:00:00 CESTPressmeddelande

Press release Bergman & Beving acquires KGC Bergman & Beving has today signed an agreement to acquire all shares in KGC Verktyg & Maskiner AB. KGC, based in Älvsjö, has for more than 60 years developed and delivered quality tools and accessories for bricklayers and tilers in its own brand KGC. The business has a turnover of approximately SEK 80 million per year, and has 24 employees. "KGC is a leading brand with high reputation among bricklayers and tilers and has a very strong position in the Swedish market," says Pontus Boman, President and CEO. The closing is taking effect on 1 May 2019 and the acquisition is expected to have a marginal positive impact on Bergman & Beving's earnings per share during the current fiscal year. Stockholm, 10 April 2019 Bergman & Beving AB (publ) For further information, please contact: Pontus Boman, President & CEO, Tel: +46 10 454 77 00 Peter Schön, CFO, Tel: +46 70 339 89 99 The information was submitted for publication, through the agency of the cont

Karolinska Development's portfolio company Aprea presents promising results with APR-246 in combination with immuno-oncology agents3.4.2019 14:00:00 CESTPressmeddelande

STOCKHOLM, April 3, 2019. Karolinska Development's portfolio company Aprea today presents results from studies with APR-246 in combination with immune checkpoint blockade. The results show that APR-246 can improve the effect of immuno-oncology agents. Karolinska Development portfolio company Aprea Therapeutics announced today the results of studies with APR-246 in combination with immune checkpoint blockade. The results were presented by researchers from Memorial Sloan Kettering Cancer Center at the 2019 AACR Annual Meeting in Atlanta. The studies collectively support a role for p53 activity in the tumor microenvironment and suggest that stabilization of the tumor suppressor protein, p53, by APR-246 can enhance anti-tumor immune response, particularly when combined with immuno-oncology agents. The studies characterized changes in the tumor immune microenvironment in melanoma and colorectal cancer in vivo models when treated with APR-246 and immuno-oncology agents, either alone or in co

Karolinska Development's portfolio company Aprea presents promising results with APR-246 in combination with immuno-oncology agents3.4.2019 14:00:00 CESTPressmeddelande

STOCKHOLM, April 3, 2019. Karolinska Development's portfolio company Aprea today presents results from studies with APR-246 in combination with immune checkpoint blockade. The results show that APR-246 can improve the effect of immuno-oncology agents. Karolinska Development portfolio company Aprea Therapeutics announced today the results of studies with APR-246 in combination with immune checkpoint blockade. The results were presented by researchers from Memorial Sloan Kettering Cancer Center at the 2019 AACR Annual Meeting in Atlanta. The studies collectively support a role for p53 activity in the tumor microenvironment and suggest that stabilization of the tumor suppressor protein, p53, by APR-246 can enhance anti-tumor immune response, particularly when combined with immuno-oncology agents. The studies characterized changes in the tumor immune microenvironment in melanoma and colorectal cancer in vivo models when treated with APR-246 and immuno-oncology agents, either alone or in co

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum