Global Gold Recycling declines 3% y/y in Q1 2015: WGC

Published: May 15, 2015 08:54

Save

Global gold supply remained virtually unchanged at 1,089 tons as a 2% rise in Q1 2015 mine production to 729 tons was balanced by a 3% fall in recycling to 355 tons.

UNITED STATES May 14 2015 5:33 PM

NEW YORK (Scrap Register): Global gold supply remained virtually unchanged at 1,089 tons as a 2% rise in Q1 2015 mine production to 729 tons was balanced by a 3% fall in recycling to 355 tons, compared with the same quarter last year, as per the latest figures from the London based World Gold Council.

However, the first three months of this year saw stable gold demand, according to the latest Gold Demands Trends report from the World Gold Council. Total demand for Q1 2015 was 1,079 tons, down just 1% on the same period last year.

Conditions differed from market to market, but at an aggregate level, these differences broadly balanced each other out.

Once again, consumers in Eastern countries dominated the market with China and India alone accounting for 54% of total global consumer demand in the quarter.

Total investment demand was up 4% to 279t, compared to 268t in the same quarter the previous year. Demand for bars and coins fell 10% from the previous year to 253t as retail investors, notably in India, diverted their money into equities in the wake of the country’s strong stock market performance. However ETFs saw their first inflows since Q4 2012, albeit at the modest rate of 26t.

gold recycling WGC

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

36 mins ago

Shanghai Spot Copper Premiums Rise as Supply Declines and Downstream Buying Improves

[SMM Shanghai spot copper] Approaching the delivery of the SHFE copper 2606 contract, coinciding with copper prices falling to the range of 103,300-104,000 yuan/mt, downstream purchasing sentiment improved. Against the backdrop of declines in both domestic and imported supplies, the Shanghai region continued destocking, and Shanghai spot copper premiums further rose intraday compared to yesterday. Currently, mainstream deliverable sources are hard to find at discount quotes.

36 mins ago

1 hour ago

Court Orders Renewed Indigenous Consultation for Seabridge’s KSM Project

The British Columbia Supreme Court has ordered provincial authorities to revisit the consultation process for Seabridge Gold’s KSM project, ruling that the government failed to adequately consult the Tsetsaut Skii km Lax Ha Nation before determining the project had been substantially started. With an estimated capital cost of C$8.8 billion, KSM is one of the world’s largest undeveloped gold-copper projects and hosts approximately 7.3 billion pounds of copper reserves. The ruling could introduce additional uncertainty to the project’s permitting and development timeline, highlighting ongoing challenges related to Indigenous consultation and environmental approvals in Canada’s mining sector.

1 hour ago

Sierra Gorda and BHP’s Spence Mine Sign Cooperation Agreement to Improve Efficiency

Chile’s Sierra Gorda mine and BHP’s Spence operation have signed a memorandum of understanding (MoU) to evaluate collaboration opportunities in supply chains, operating processes and infrastructure aimed at reducing costs, improving efficiency and enhancing long-term competitiveness. Both operations are facing declining ore grades and increasing operational complexity. At the same time, BHP is advancing a concentrator expansion project at Spence, while Sierra Gorda is progressing an SX-EW project expected to produce approximately 30,000 tonnes of copper cathodes annually.

1 hour ago