Japanese Silver Production to Increase on Solar Market Demand

Bloomberg reported that Japanese Dowa Holdings Co. is expected to boost their silver production by 40 percent in 2013 to meet burgeoning demand for solar cells, after the Fukushima disaster dented their nuclear power supply, and made fossil fuel costs prohibitive.

As quoted in the Bloomberg report:

Japan is expected to become the largest solar market after China this year, according to estimates by Bloomberg New Energy Finance, or BNEF. The forecast reflects the push by Japan to find alternative sources of energy following the earthquake and tsunami, which prompted the shutdown of all but two of the nation’s nuclear reactors. A rise in demand may support silver, which entered a bear market on April 2.

To view the whole Bloomberg report, click here.