Metals; silver, semi-manufactured

HS code 710692 covers the semi-manufactured forms of silver, a precious metal with a wide range of industrial and commercial applications. The silver industry plays a crucial role in the global economy, providing essential materials for various sectors, including electronics, jewelry, and industrial manufacturing. As a highly versatile and valuable commodity, the production and trade of semi-manufactured silver products are of significant economic importance.

The production of semi-manufactured silver involves several key steps. First, silver ore is extracted from mines and then refined to produce pure silver. The refined silver is then cast into ingots or bars, which are subsequently rolled, drawn, or extruded into various semi-manufactured forms, such as sheets, wires, and foils. These processes require specialized equipment and skilled labor to ensure the desired quality and consistency of the final products.

The primary inputs for the silver semi-manufacturing industry include raw silver, as well as various machinery and equipment used in the production process. The availability and cost of silver ore, as well as the energy and labor required for refining and processing, are crucial factors that influence the industry's overall competitiveness. Additionally, the industry relies on a range of supporting industries, such as 731210 Bars, rods, angles, shapes and sections, of iron or non-alloy steel, 732690 Other articles of iron or steel, and 848180 Taps, cocks, valves and similar appliances for pipes, boiler shells, tanks, vats or the like, which provide the necessary tools and components for the manufacturing of semi-manufactured silver products.

The primary outputs of the silver semi-manufacturing industry are a wide range of semi-manufactured silver products, such as sheets, wires, foils, and other forms. These semi-manufactured silver products are then consumed by various downstream industries, including 711311 Jewelry of silver, whether or not plated or clad with other precious metal, 851770 Parts of telephone sets, telephones, microphones and loudspeakers, and 902300 Instruments, apparatus and models, designed for demonstrational purposes. The versatility and high value of silver make it an essential material for numerous applications across various sectors of the economy.