(Washington, D.C. – December 14, 2010) The Silver Institute has commissioned GFMS Ltd., the precious metals consultancy, to produce a report on the future of silver industrial demand. The report, to be published in February 2011, will clarify whether the 2009 demand setback was a cyclical event rather than a structural shift. It will also examine the potential for long-term growth in industrial demand.
Industrial demand is the most significant component of silver’s demand equation. Industrial uses collectively comprise nearly half of all fabrication demand for silver annually, totaling 352 million ounces last year. This versatile metal, for which there are few substitutions, is used in a wide range of industrial applications including electronics, batteries, chemical catalysts, brazing and soldering, biocides, optical devices, mirrors and glass coatings.
There are signs of recovery already. On November 17, at the Silver Institute’s Annual Silver Industry Dinner in New York City, GFMS projected an 18 percent increase in silver industrial demand for 2010. This expansion reflects a cyclical rebound for silver consumption in traditional industrial applications and in growing areas such as in photo voltaic cells for use in solar panels. The increase also takes into account the restocking of inventory by manufacturers.
The report will be available on the Silver Institute’s web site at no cost.
The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute serves as the industry’s voice in increasing public understanding of the value and many uses of silver.
For Further Information Contact:
Mike DiRienzo
The Silver Institute
888 16th Street, N.W., Suite 303
Washington, D.C. 20006
Tel: (202) 835-0185
Fax: (202) 835-0155
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