Page 3 - Silver Imports
Silver import up 60%, to cross 5,000 tonnes
Import of silver has risen this year. Thomson Reuters GFMS says this had reached 4,200 tonnes till October, 60 per cent higher compared to the same period in 2016, and likely to end the year with 5,000 tonnes.Restocking after last year's fall and demand from industry led to the rise and "with overall improved consumption sentiment and improving rural India, we expect import demand next year to rise further by approximately 10 per cent", said Sudheesh Nambiath, regional lead analyst for GFMS.Import fell significantly in 2016 to 2,794 tonnes, from an all-time high of 7,955 tonnes in 2015. Says Viraj Didwani, Director at Foresight Bullion India, one of the large silver importers and wholesalers: "After demonetisation, dealing with cheques is catching up; we see dealers/jewellers in even smaller towns have also shifted to banking chennels for silver buying."As a result, unaccounted silver flows are largely from customers who sell silver jewellery or bars back to jewellers and insist on ...
 "Silver import up 60%, to cross 5,000 tonnes")
Silver import could fall to 5-year low as note ban hits demand
Purchases from overseas plunged 60% to about 3,000 tonnes last year & would contract further in 2017
 "Silver import could fall to 5-year low as note ban hits demand")
Silver imports fell by half in 2016 as traders offloaded old stock
Silver has been a high beta commodity with prices rising and falling fast compared to gold