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SILVER

History & properties:
Silver has the symbol Ag derived from the Latin argentum. It has the atomic number 47. Silver is often found in close proximity to other ores, such as lead, copper and zinc. Sterling silver is a commonly used alloy of silver containing 92.5% silver and 7.5% copper.
Silver has the highest electrical conductivity of all metals, but its cost being 50 times more expensive than copper has prevented it from being used more widely for electrical purposes. First mined on a large scale around five thousand years ago in an area that is modern-day Turkey, its use was widespread due to its ease of access since silver deposits were on or near the earth's surface.

Exchange traded:
Silver is traded on the COMEX division of the New York Mercantile Exchange (NYMEX), the Chicago Board of Trade (CBOT), and the Tokyo Commodities Exchange (TOCOM). The COMEX silver futures contract specifies delivery of 5,000 troy ounces, and is quoted in US cents per troy ounce. The Bloomberg ticker for the spot silver price is SLVRLN and is quoted in US cents per troy ounce.

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Major producers & consumers:
Peru is the world's largest producer of silver at 3,191 tonnes in 2005, followed by Mexico, Australia, China and Chile. Large increases in Mexican and Australian production in 2005 brought global production to a new high of 641.6 million ounces or just under 20,000 tonnes. However, production decreases have occurred in Canada and Poland. 
Major producers & consumers continue:
Given silver's importance in industrial applications, the US and Japan are the largest consumers representing more than 35% of world fabrication demand. India and China are the world's third and fourth largest consumers of the metal.
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