by Steve St. Angelo
With Mexico finally releasing its mine supply data for April, the top two silver producers saw their combined silver output decline by 53%. To give you an idea of the amount of lost silver mine supply from Mexico and Peru, it was more than all the global gold production that month. Actually, it was 1.5 months worth of world gold mine output.
According to Mexico’s INEGI, silver output in April fell to 301 metric tons (mt) compared to 500 mt in March. This turned out to be a 40% decline, less than my forecast of 60-70% loss in production.