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Global demand for silver is forecast to expand 3.1% p.a. between 2016 and 2020. Currently, unwrought silver accounts for 75.9% of the global demand while the remaining market share is divided between semi-manufactured silver (12.5%) and silver powder (11.6%).

China, India, Ukraine, the United Kingdom and the United States are considered the highest potential markets in the coming years. China, India, Japan, South Korea and the United States represent the largest silver markets while the strongest annual growth is forecast to occur in United Kingdom (23.5%), Ukraine (20.6%), Belgium (14.8%), India (10.1%) and Vietnam (9.6%).

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