Silver recycling is set to rise - Silver Institutes' Michael DiRienzo
Silver recycling will go up as the metal's price rises said Michael DiRienzo, president and CEO of The Silver Institute. This week DiRenzo recorded an episode of Green Rush with Matt Watson, founder of Precious Metals Commodity Management.
DiRenzo discussed the outlook for silver in the context of the current market and the growing industrial demand. He highlighted silver's increasing role as an industrial metal, especially in photovoltaics and electronics.
DiRenzo believes that silver's price will rise due to this growing demand and that it has a lot more room to run. He also points out that silver's price is likely to be boosted by potential Fed rate cuts. While acknowledging that silver recycling rates are currently low, he believes that with higher prices, recycling will become more economically viable and contribute to meeting the growing demand.
Source: https://www.kitco.com