SOURCE: The Bedford Report
NEW YORK, NY--(Marketwire - Jun 29, 2011) - Silver stocks have been relatively steady this month as favorable demand reports have helped offset concerns regarding the slowing economic recovery. With silver demand on the upswing in several emerging economies, silver companies are feverishly boosting production. The Bedford Report examines the outlook for the Silver Market and provides equity research on iShares Silver Trust (NYSE: SLV) and Silvercorp Metals, Inc. (NYSE: SVM) (TSX: SVM). Access to the full company reports can be found at:
According to reports from SilverSeek, silver's availability on the Comex has fallen 38 percent to 29 million since 2011 began. Meanwhile, the amount available for Comex clients has increased 23 percent to 72 million ounces.
The Silver Institute forecasts that total industrial use of the metal will rise 36 percent over the next five years to more than 665 million troy ounces annually. New technologies in solar energy, water purification and medical instruments are expected to keep industrial demand for the metal surging going forward.
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Maintaining production costs is critical for all silver companies looking to capitalize on current market conditions. Silvercorp Metals saw a 31 percent improvement in silver production costs in its most recent quarter. During the quarter, Silvercorp said it produced 1.05 million ounces of silver, resulting in a record annual production of 5.3 million ounces of silver and achieved the fifth consecutive year of production growth.
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