Is there a positive correlation between silver recycling and price of silver? - Stockxpo - Grow more with Investors, Traders, Analyst and Research

Is there a positive correlation between silver recycling and price of silver?

I recently looked at a 7 year chart of silver’s price and silver recycling. The correlation was the opposite as I would expect. Prices moved up when recycling was increasing and decreased when recycling decreased. Is this coincidental or actual correlation and if it is correlated, how so?

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