Average London fix price of silver 1975-2022

The annual average of London fix price for one ounce of silver in 2022 was 21.73 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 2022 was 26,000 metric tons. The leading country in silver production in 2022 was Mexico. In that year, Mexico produced about 6,300 metric tons of silver. Peru had the largest silver reserves worldwide, amounting to 98,000 metric tons in 2021.

Silver in the United States

Silver exports from the United States have been fluctuating since 2008. In 2022, the United States exported about 230 metric tons of silver, a significant increase from the 946 metric tons they exported in 2012. U.S. imports of silver for consumption, meanwhile, amounted to 4,600 metric tons in 2022.