Global Trends Today
  • News
  • Economy
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
  • News
  • Economy
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
Global Trends Today
No Result
View All Result
Home Investing

Silver Traders Seek Out China as Solar Demand Stays Strong

by
May 31, 2024
in Investing
0
Silver Traders Seek Out China as Solar Demand Stays Strong
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter

China’s silver imports may surge in the coming weeks, fueled by a combination of strong industrial demand and a price advantage in the Chinese market, according to a report by Bloomberg.

The news comes on the heels of a strong year for silver demand. Silver Institute figures show that although overall demand fell 7 percent in 2023, it still outstripped supply, resulting in a third consecutive structural market deficit.

This trend is expected to continue in 2024, with industrial demand forecast to rise by 9 percent.

The primary driver for the expected increase in Chinese silver imports is the booming solar panel industry, a major consumer of silver. Global silver demand for photovoltaic applications skyrocketed by 64 percent in 2023, reaching a new high of 193.5 million ounces. China, a leader in solar panel production, is at the forefront of this growth.

This surge in demand has led to a decline in Chinese silver stockpiles, and to meet their needs Chinese buyers are increasingly turning to silver imports. According to Bloomberg, although there is a 13 percent import tax, the premium on the Shanghai silver spot price rose above 15 percent last week, more than compensating for the charge.

‘A wave of imports into China is going to drain the free float away from the West even further,’ Daniel Ghali, senior commodity strategist at TD Securities (TSX:TD,NYSE:TD), told Bloomberg. ‘That hasn’t been captured by market pricing.”

This trend could have a ripple effect in the global silver market. As China ramps up imports, available supply of the white metal for other countries could tighten, potentially pushing prices higher.

The silver price was trading at US$31.38 per ounce as of 12:00 p.m. EDT on Thursday (May 30).

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
Previous Post

Westgold Strategic Alliance and Placement

Next Post

Premier1 Lithium

Next Post
Premier1 Lithium

Premier1 Lithium

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • Trending
    • Comments
    • Latest

    Hacker lexicon: What is a supply chain attack?

    June 11, 2021

    Losing Depop to US ownership makes the British tech sector look secondhand

    June 11, 2021

    Andrew Lloyd Webber to sue the Government if theatres are not fully reopened from June 21

    June 11, 2021

    Microsoft’s Kate Crawford: ‘AI is neither artificial nor intelligent’

    June 11, 2021
    Justin Huhn: Uranium Game On — Supply “Mirage,” De-risked Demand, Next Price Move

    Justin Huhn: Uranium Game On — Supply “Mirage,” De-risked Demand, Next Price Move

    0

    Reply to “Reply to Whitehead” by Desvousges, Mathews and Train: (4) My treatment of the weighted WTP is biased in favor of the DMT (2015) result/conclusion

    0

    The 40 Weirdest (And Best) Charts We Made In This Long, Strange Year

    0

    Will The Debate Over $2,000 Stimulus Checks Help Democrats In Georgia?

    0
    Justin Huhn: Uranium Game On — Supply “Mirage,” De-risked Demand, Next Price Move

    Justin Huhn: Uranium Game On — Supply “Mirage,” De-risked Demand, Next Price Move

    June 6, 2025
    Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    June 6, 2025
    Offer Booklet – Non-Renounceable Entitlement Offer

    Offer Booklet – Non-Renounceable Entitlement Offer

    June 6, 2025
    In-fill RC Drilling at Kamperman Confirms High-Grade Gold

    In-fill RC Drilling at Kamperman Confirms High-Grade Gold

    June 6, 2025

    Recent News

    Justin Huhn: Uranium Game On — Supply “Mirage,” De-risked Demand, Next Price Move

    Justin Huhn: Uranium Game On — Supply “Mirage,” De-risked Demand, Next Price Move

    June 6, 2025
    Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    June 6, 2025
    Offer Booklet – Non-Renounceable Entitlement Offer

    Offer Booklet – Non-Renounceable Entitlement Offer

    June 6, 2025
    In-fill RC Drilling at Kamperman Confirms High-Grade Gold

    In-fill RC Drilling at Kamperman Confirms High-Grade Gold

    June 6, 2025

    Disclaimer: GlobalTrendsToday.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 globaltrendstoday.com | All Rights Reserved

    No Result
    View All Result
    • News
    • Economy
    • Investing
    • Stock
    • Editor’s Pick

    Copyright © 2025 globaltrendstoday.com | All Rights Reserved