Silver Market Shifts Away from Photographic Demand to Fill Other Needs

Mineweb reported that, although there has been a steady decline in demand for silver use for photographic purposes, demand for the precious metal has remained, suggesting that other sectors are picking up the slack.

As quoted in the market report:

Meanwhile in the period from 2003 to 2013 annual silver production grew 23%. Will a further decline in photographic demand or the complete disappearance of this once great consumer be a tremendous factor on the silver price? I say it’s doubtful. But the fundamentals do mean something, and to understand what has saved the price of silver from the loss of demand from the photographic market we have to look to the new industries that have filled the void.

To view the whole Mineweb report, click here.