Uptick in Industrial Silver Demand Benefits First Majestic Silver and Coeur d'Alene Mines
March 23 2012 - 8:20AM
Marketwired
Silver stocks have been relatively flat over the last month after
the Global X Silver Miners ETF (SIL) surged more than 13 percent
between January and Mid-February. Silver stocks have stagnated
since China's factory output, retail sales and investment data all
slowed in February while its inflation rate dropped to a twenty
month low. Five Star Equities examines the outlook for companies in
the Silver Industry and provides equity research on First Majestic
Silver Corporation (NYSE: AG) (TSX: FR) and Coeur d'Alene Mines
Corporation (NYSE: CDE) (TSX: CDM). Access to the full company
reports can be found at:
www.fivestarequities.com/AG
www.fivestarequities.com/CDE
According to a recent press release issued by The Silver
Institute, investment demand pushed the silver price up 20 percent
in the first ten weeks of 2012, outperforming platinum, palladium
and gold during the period. The release says that investors are
increasingly acquiring silver in many forms. Globally, silver-based
exchange-traded-funds (ETFs) account for 586 million ounces (Moz)
of silver, up from 576 Moz at the end of 2011.
In addition, global silver industrial demand continues to
improve after a record 2011. According to The Future of Silver
Industrial Demand, a report commissioned by the Silver Institute
and released last March, silver industrial demand is forecast to
grow by 36 percent from 2010 through 2015.
Five Star Equities releases regular market updates on the Silver
industry so investors can stay ahead of the crowd and make the best
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China continues to play a significant role in Silver's demand
outlook. China said its net imports of silver nearly quadrupled to
more than 3,500 metric tons in 2010, boosted by sharp increases in
demand by the industrial sector and the jewelry industry. Of
concern, Chinese officials recently cut the country's 2012 target
growth rate to 7.5 percent -- the lowest year-on-year growth
projection in eight years.
As released in Dow Jones Newswires several indicators showed
economic activity slowing in China in the first two months of the
year, "which combined with subdued inflation could pave the way for
more loosening of policy to support growth."
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