In a decade silver demand has grown by more than 100 million ounces.
By Kathryn Lewis
A new report released on Friday by the Silver Institute paints a rosy picture of the Chinese silver market and forecasts further growth.
In just a decade, demand for silver in China has grown by more than 100 million ounces and fabrication has nearly doubled, making China the second largest silver fabricator in the world just behind India. China is the world’s leading market for both physical investment and paper trading of silver futures.
The Silver Institute report forecasts that demand for silver will experience strong growth in the coming years. Between 2001 and 2011, the market in China for silver jewellery grew by 211% to 54.4 Moz.
Silver Institute executive director Michael DiRienzo said: “This report underscores China’s growing importance to the global silver market. It is impressive to see the dramatic development in so many sectors of their domestic silver market in the last decade.”
The report looks at the deregulation of the Chinese silver market and includes chapters on Chinese silver supply, fabrication demand and silver investment, as well as silver imports and exports.
You can dowload a copy of the Silver Institute report from the Professional Jeweller website by clicking here.