We produce 1 billion ounces of silver each year, yet we only use 500 million ounces of silver each year (all the rest is stored)
Each year, Copper and Zinc and lead miners produce 500 million ounces of silver as a waste byproduct of their Copper and Zinc mining operations. Tiny amounts of silver are in each monster bucket of copper and zinc ore. The tiny amounts of silver get a free ride through the mining and smelting process. It's not until the very last step that the silver is separated out in order to purify the copper and zinc. Because the silver gets a free ride though 99% of the copper and zinc mining/smelting process, there's only a tiny amount of cost at the tail end of the refining process that 's attributable to the silver. It costs less than .50 cents per ounce to produce the silver.
Because copper and zinc mines are so very massive, all the tiny amounts of silver per bucket add up over the year to large tonnages of silver.
500 million ounces of byproduct silver are produced each year for under .50 cents per ounce. That's the total amount of silver used by industry world-wide, so this .50 cents per ounce silver can meet 100% of the industrial needs of the world.
Silver prices could drop to $1.00 per ounce and the copper and zinc miners would just keep producing silver (as a byproduct) and selling it at $1.00 per ounce (and making money on it). Their only other option would be to throw the silver away.
Hey #$%$, what happens if zinc and lead prices plummet and base metal mines SHUTTER!!?? Primary silver miners break even cost is MUCH higher.
And your supply/demand statistics are HILARIOUS! What do you do? Round to the nearest half billion? LOLOLOL
The "surplus" between supply and industrial demand only leaves a couple hundred million ozs available for investors which as you know is CHUMP CHANGE at $30 silver.
Let me FIX YOUR NUMBERS FOR YOU: There are MILLIONS of people in the world who are accumulating THOUSANDS of ozs of silver. That adds up to.... MORE SILVER THAN IS AVAILABLE IN ABOVE GROUND REFINED FORM!!! Price WILL RISE MASSIVELY once govt Ponzi scheme and short manipulations are deep sixed.
Take advantage of the GOVT PRICE SUBSIDY given to the the silver investors and BUY THE ARTIFICIAL LOW PRICE!!!! And for GOD'S SAKE if you own ETF metal sell immediately and buy REAL METAL!!!!!!! Don't wait another day!!! The transaction cost will be outweighed by the fact you actually own real money!