Lockdown measures to contain the spread of Covid-19 are impacting on a wide range of commodities, with silver production currently the most severely damaged by mine shutdowns.
Data and analytics company GlobalData reports that, as of April 27, the equivalent of 65.8% of yearly global silver production was on hold, with silver companies such as First Majestic, Hochschild, Hecla and Endeavour Silver all withdrawing their production guidance for the year.
In addition, 32% of uranium production, 23.8% of zinc, 19.5% platinum, 14.6% of nickel, 14.4% of diamond, and 12.7% of copper were placed on hold at April 27, says GlobalData mining analyst Vinneth Bajaj.