Interesting fact that over80% of silver sold at recent Australian antique auctions is being sold to overseas buyers. How can the silver institute keep publishing that 200mm oz or whatever they produce is from “scrap” how do they measure this? What sort of channel checking do they do? That is a very rubbery figure in my opinion when any scrap is snapped up at significant at significantly over spot. And in an Australian context is then shipped offshore so at an additional cost. Add to this the opaqueness of the local market in scrap is so hard to read that actual silver production is lower that stated.
