NEW YORK, NY -- (Marketwire) -- 03/23/12 -- Silver stocks have been relatively flat over the last month after the Global X Silver Miners ETF (SIL) surged more than 13 percent between January and Mid-February. Silver stocks have stagnated since China's factory output, retail sales and investment data all slowed in February while its inflation rate dropped to a twenty month low. Five Star Equities examines the outlook for companies in the Silver Industry and provides equity research on First Majestic Silver Corporation (NYSE: AG) (TSX: FR) and Coeur d'Alene Mines Corporation (NYSE: CDE) (TSX: CDM). Access to the full company reports can be found at:
According to a recent press release issued by The Silver Institute, investment demand pushed the silver price up 20 percent in the first ten weeks of 2012, outperforming platinum, palladium and gold during the period. The release says that investors are increasingly acquiring silver in many forms. Globally, silver-based exchange-traded-funds (ETFs) account for 586 million ounces (Moz) of silver, up from 576 Moz at the end of 2011.
In addition, global silver industrial demand continues to improve after a record 2011. According to The Future of Silver Industrial Demand, a report commissioned by the Silver Institute and released last March, silver industrial demand is forecast to grow by 36 percent from 2010 through 2015.
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China continues to play a significant role in Silver's demand outlook. China said its net imports of silver nearly quadrupled to more than 3,500 metric tons in 2010, boosted by sharp increases in demand by the industrial sector and the jewelry industry. Of concern, Chinese officials recently cut the country's 2012 target growth rate to 7.5 percent -- the lowest year-on-year growth projection in eight years.
As released in Dow Jones Newswires several indicators showed economic activity slowing in China in the first two months of the year, "which combined with subdued inflation could pave the way for more loosening of policy to support growth."
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