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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: marynell who wrote (4461)	1/14/2002 1:18:39 PM
From: goldsheet	Respond to of 8010

Wasn't talking about the microeconomics of individual scrap companies, such as their leverage, profits, business models, etc.. Although one should mention buying scrap below current market price, refining it, then selling it at current prices is always profitable (even very profitable) Was talking about the macroeconomic impact they make each year in terms of the 18moz of product they add to the supply-demand equation. Secondary scrap is the second largest source of gold behind mine production. Getting back on topic: For silver, scrap is probably more important. By-product from primary copper, gold, or lead-zinc mines accounts for 2/3 of silver supply. In that context, silver is just scrap to them and they dump it on the market as fast as they mine it. Secondary supply, scrap from photography and electronics would be second. Primary silver mines would a distant third place silver source.