Commodity Trade Mantra

Posts Tagged ‘Silver Bars and Coins’

India Imports Record Amount Of Silver In November

India imported 1,254 mt of silver just in November, compared to a total of 1,274 mt for 2009. Furthermore, Indian silver imports in October and November (2,497 mt) were higher than the total in 2012 at 1,922 mt. India’s estimated 2014 silver imports at 7,400 mt equals 234 million oz (Moz) or 28% of total world mine supply of 825 Moz.

Indian Silver Imports Setting Up For Another Big Record Year

With strong demand in Oct, India imported 5,535 mt of silver year to date, with two months remaining. If India imports a conservative 350 mt of silver for each of the remaining two months, that would be a little more than 6,200 mt. In 2013, India imported 5,819 mt of silver & US imported 5,080 mt; totaling 42% of global silver mine supply.

Significant Drawdown Of UK Silver Inventories On Record Indian Demand

Demand for silver bars and coins has soared in recent weeks as bargain hunting retail investors returned to the silver market after a disappointing first half of the year. Its more than evident in India where silver imports are up by 14% YoY for the Jan to Oct period, so strong, that it produced a significant drawdown of U.K. silver inventories.

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