November 20, 2019 / 12:00 PM / 16 days ago

Silver oversupply shrinks as global demand edges higher- Metals Focus

    LONDON, Nov 20 (Reuters) - Silver demand will creep up by 1%
this year, reducing global oversupply of the metal to the lowest
since 2015, consultancy Metals Focus said in a report. 
    Slowing global economic growth amid an ongoing U.S.-China
trade dispute has weakened demand for silver from some
industries, according to the Metals Focus / Silver Institute
Interim Silver Market Review. 
    But this was offset by the higher use of sliver in
electrical wiring in autos as vehicles become more
sophisticated, by increased purchases by investors and strong
demand for silverware and silver jewellery in India, it said. 
    
    SILVER SUPPLY AND DEMAND (millions of ounces)
                              2019(f)       2018    % Change
 Industrial                     513.5      514.0          0%
 Photography                     33.0       34.2         -4%
 Jewellery                      209.5      203.7          3%
 Silverware                      67.9       65.4          4%
 Net Physical Investment        178.1      165.8          7%
 Net Hedging Demand       -                  8.7            
 Total Demand                 1,002.1      991.7          1%
 Total Supply                 1,018.9    1,023.7          0%
 Market Balance                  16.5       32.0        -48%
 Source: Metals Focus / Silver Institute Interim Silver Market
Review

 (Reporting by Peter Hobson, editing by David Evans)
  
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