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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: GraceZ who wrote (99094)	5/2/2001 5:37:10 PM
From: pater tenebrarum	Read Replies (1) of 436258

we'll look at it again next year, and the year after next, and so on. all i'm saying is that so far, the demise of silver based film has been greatly exaggerated, since it simply hasn't happened. most applications for silver are btw. very price inelastic, since silver is usually such a small component in them. even if photographic silver demand should at some as of yet undeterminable point in the future decline, the demand growth in other applications will easily make up for that. in the meantime, there's been a huge primary supply/demand deficit persisting for 10 years, and global inventories are at a 7 decade low. that's right, 7 decade low. soon no inventories will be left, and then the test for your theory will come, as silver prices won't stay down when that happens. btw, photographic demand was 246 m. oz last year, out of total fabrication demand of 888m. oz. about the size of the structural deficit.

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