Average London fix price of silver 1975-2020

The annual average of London fix price for one ounce of silver in 2020 was 20.55 U.S. dollars.

The global silver industry

Silver is a soft, white, malleable metal that has the highest electrical and thermal conductivity of all metals. Silver is most commonly used to make coins, jewelry, and silverware. It is typically produced as a byproduct of copper, gold, lead, and zinc refining. The estimated global mine production of silver in 2020 was 25,000 metric tons. The leading country in silver production in 2020 was Mexico. In that year, Mexico produced about 5,600 metric tons of silver. Peru had the largest silver reserves worldwide, amounting to 91,000 metric tons in 2020.

Silver in the United States

Silver exports from the United States have been fluctuating since 2008, but have recently been on the decline. In 2020, the United States exported about 130 metric tons of silver, a significant decrease from the 946 metric tons they exported in 2012. U.S. imports of silver for consumption, meanwhile, amounted to 6,500 metric tons in 2020.