{"id":29827,"date":"2021-11-16T08:27:50","date_gmt":"2021-11-16T18:27:50","guid":{"rendered":"https:\/\/srsroccoreport.com\/public\/?p=29827"},"modified":"2021-11-16T08:27:50","modified_gmt":"2021-11-16T18:27:50","slug":"u-s-imports-even-more-silver-this-year-pulling-supply-from-turkey-russia-uzbekistan-kazakhstan","status":"publish","type":"post","link":"https:\/\/srsroccoreport.com\/public\/u-s-imports-even-more-silver-this-year-pulling-supply-from-turkey-russia-uzbekistan-kazakhstan\/","title":{"rendered":"U.S. IMPORTS EVEN MORE SILVER THIS YEAR: Pulling Supply From Turkey, Russia, Uzbekistan & Kazakhstan"},"content":{"rendered":"

With American silver investment demand continuing to be very strong this year, the U.S. is importing even more silver.\u00a0 The U.S. market is now acquiring metal from Turkey, Russia, Uzbekistan, and Kazakhstan to access more silver.<\/strong><\/span>\u00a0 \u00a0While the U.S. receives most of its silver from Mexico and Canada, it imported nearly 10 million oz of silver from those four countries.<\/p>\n

According to the USGS Silver Mineral Industry Surveys, total U.S. silver imports reached nearly 4,000 metric tons (mt) in the first seven months of the year.\u00a0 The chart below shows the cumulative increase in U.S. silver imports from January to July 2021.<\/p>\n

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From Jan-July 2021, the U.S. imported 126 million oz (Moz) of silver at a total value of $3.43 billion… with an average spot price of $27.22.\u00a0<\/strong><\/span> What a difference from the average price last year when the U.S. silver imports for Jan-July 2020 were 118 Moz at an average of $18.68.<\/p>\n

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With the big price surge of silver in July 2020, the U.S. imported a record 1,060 mt or 34 Moz in just one month.\u00a0 This pushed up the total cumulative U.S. silver imports to 3,677 mt (118 Moz) versus the 3,920 mt (126 Moz) during the same period this year.<\/p>\n

So, where did all this silver come from?\u00a0 As I mentioned at the beginning of the article, most silver comes from the United States’ two closest neighbors, Mexico and Canada.\u00a0 The U.S. imported over 2,000 mt of its silver from Mexico and Canada during the first seven months of 2021.\u00a0 Third place was Switzerland at 465 mt, followed by Poland at 361 mt.<\/strong><\/span>\u00a0 These were the four largest sources of U.S. silver imports.<\/p>\n

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What was interesting this year is that the U.S. acquired silver from Turkey, Russia, Uzbekistan, and Kazakhstan, four countries that it typically doesn’t import from.\u00a0 Turkey was the sixth-largest source at 140 mt, with Kazakhstan, Russia, and Uzbekistan accounting for a total of 157 mt.\u00a0 Thus, these four countries shipped nearly 300 mt or 10 million oz of silver to the United States in just the first seven months of the year.<\/strong><\/span><\/p>\n

It will be interesting to see what the U.S. silver imports will be for the remaining months in 2021.\u00a0 With India now importing a lot of silver since September, this could get very interesting as the world begins to wake up that SILVER is one of the few HIGH-QUALITY stores of value.<\/p>\n

I also wanted to let you know that CLOUD HARD ASSETS<\/a> sells Silver Krugerrands & Silver Philharmonics (& Britannias) at only $3.50 over spot.<\/strong>\u00a0 If you go to the large online dealers and compare prices, you will find out that Cloud Hard Assets<\/strong> has the best prices.\u00a0 Also, Cloud Hard Assets puts your funds in an ESCROW ACCOUNT until the metal is shipped, and this protects the clients’ funds.\u00a0 I find that this is an excellent service not offered by many dealers in the industry.<\/p>\n

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You can contact Tom, Dan, or Jade… Click here: CLOUD HARD ASSETS<\/strong><\/a>.\u00a0 You can also call (800) 247-2812.<\/p>\n