The World’s largest silver producer saw its production decline significantly in April. According to Mexico’s INEGI – National Institute of Statistics and Geography, Mexico’s silver production dropped a stunning 12% in April compared to the same month last year.
Looking at the chart below, we can see Mexico’s silver production declined 58 metric tons (mt), from 484 in April last year down to 426 metric tons in 2015:
That’s a large decline in just one month. Mexico’s total silver production for the first four months of 2015 is down 5% (92 mt) compared to last year. Here is the data:
Jan-Apr 2014 = 1,893 mt
Jan-Apr 2015 = 1,801 mt.
This is the actually data released by Mexico’s INEGI:
The table shows silver production in Mexico declined the most in the larger regions such as, Zacatecas, Chihuahau, Durango and Sonara. Two of Mexico’s largest silver producing mines are located in Zacatecas… Fresnillo PLC’s Fresnillo Mine and GoldCrop’s Penasquito Mine.
Falling Mexican silver production could cause more stress on an already high-demand silver market this year. With India importing record silver, including elevated imports into the United States, we could see real shortages by the second half of the year if investment demand surges due to a financial contagion stemming from a Greek Exit of the European Union.
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