China Boosts Silver Production for Industrial and Domestic Use

Chinese Silver Production

The Importance of Silver

Chinese Silver Demand

Chinese demand for silver for manufacture of solar panels is growing.

China is a major producer of silver. China is also a major consumer of silver in the rapidly growing electronics and solar panel industries.

Buy Gold PAMP Suisse Bullion Bars

China Becomes a Silver Mining Powerhouse – spurred on by exploding solar panel and industrial demand.

Update October 8, 2015: China Raises 2015 Solar Installation Target

China is The World’s Largest Gold Producer

In May this year, we reported that China had become the world’s largest importer and producer of gold.

China has been adding to its gold stockpile to boost and diversify its reserves and to hedge against monetary instability.

China is now the world's largest gold producer

China has doubled its gold production since 2000 to become the world’s largest producer

Top Gold Producing Nations

1. China
2. Australia
3. Russian Federation
4. United States
5. South Africa
6. Peru
7. Canada
8. Mexico
9. Ghana
10. Indonesia

Source: MoneyWeb via Metals Focus

The Importance of Silver to China

China Is the World’s Second Largest Silver Producer

China has also been ramping up its silver mining production and is now the world’s number two silver mining country behind Mexico.

China is now the world's second largest silver producer.

China has ramped up its silver production to become the world’s second largest producer.


Top Silver Producing Nations

1. Mexico
2. China
3. Peru
4. Australia
5. Russia
6. Poland
7. Bolivia
8. Chile
9. United States
10. Argentina

Source: The Silver Institute

China’s Industrial Demand For Silver

Silver is important to China, less so as a monetary asset and more so as an industrial metal.

Global demand for silver hit a record in 2013, led by a 76% increase in demand for silver coins and bars.

Increased silver investment demand means less silver available for industrial use such as in the production of ethylene oxide (where more than 150 million ounces of silver are used annually as a catalyst each year to produce ethylene oxide and formaldehyde for the production of plastics, polyester and adhesives) and electronics (where about 230 million ounces of silver a year are used to produce circuit boards for mobile phones and computers and switches for televisions, microwave ovens and other consumer products.

China is a major producer of ethylene oxide and electronics and as such, consumes massive amounts of silver.

Solar Energy in China

China is the World’s Largest Solar Manufacturer

Solar energy is a major growth industry for China. China has invested heavily in the photovoltaic industry as it seeks to supplement its voracious energy demands and reduce its air pollution problem with solar power. China is the world’s number one consumer of energy but is second behind Germany in total solar power generation.

In addition to manufacturing solar panels for domestic use, China is the world largest manufacturer of solar panels for export.

The photovoltaic cells in solar panels use a silver based paste. Solar manufacturers are projecting to ship a record amount of solar panels in 2014 and the silver demand for the photovoltaic industry is expected to reach 100 million ounces in 2015.

china is using silver is large quantities in its solar panel industry

Solar Panels in Shanghai, China

Chinese Silver Pandas

Buy Silver Chinese Panda Coins

In addition to China’s need for silver for use in electronics, ethylene oxide and solar panel production, China also needs silver to mint the iconic Chinese Silver Panda Coins.

The People’s Republic of China official mint has been producing Silver Panda coins since 1983. The Chinese Silver Panda coins are produced in 3 (¼ Troy ounce) 5 (½ Troy ounce), 10 (1 Troy ounce), 50 (5 Troy ounces), 100 (12 Troy ounces) and 300 (1 Kilogram) Yuan. The picture of the Panda on the coins is changed each year.

Approximately 40 million of these highly prized one ounce Chinese Silver Panda coins have been sold from 1983-2014.

In recent years, China has ramped up its annual mintage of one ounce Chinese Silver Pandas from 600,000 annually to 8,000,000 a year the past three years.

There is speculation that China will ramp up production of Chinese Silver Pandas further in the coming years and perhaps one day challenge the American Silver Eagle as the worlds largest selling silver coin.

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Buy Silver Chinese Panda Coins

Chinese Gold and Silver Mining Charts by Nick Laird of Sharelynx– the Gold Standard in Precious Metals Charts

Further Reading:

Silver Supply and Demand

Gold Supply and Demand

Twelve Ways Silver Is Different Than Gold

Gold and Silver Manipulation – Suspected

Gold and Silver Manipulation – Actual

Smaulgld Gold Buying Buying Guide

Smaulgld Silver Buying Guide

The Importance of Gold to Countries and Individuals

The Rise of the Shanghai Gold Exchange

China Hoards its Gold Production

India Boosts its Solar Power

Royal Canadian Mint


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