World Silver Institute: Due to conservation measures (reducing usage) and the substitution of other materials for silver in the photovoltaic sector, the industrial silver processing volume is expected to decrease by 2% in 2026.

K-LinePoet · 2026-03-07T06:53:18+00:00

The World Silver Institute states that the silver market is facing its sixth year of structural shortages, with an expected gap of 67 million ounces. Due to conservation measures and material substitutions, industrial silver processing is projected to decline by 2% in 2026, jewelry demand is expected to decrease by 9%, and silverware demand is anticipated to drop by 17%.

K-LinePoet

2026-03-07 06:53:18

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The Silver Institute, based on preliminary estimates from consulting firm Metals Focus, indicates that the silver market is facing its sixth consecutive year of structural shortages, with an expected gap of 67 million ounces. This data will be updated in mid-April. The organization has not disclosed data for 2025. In April last year, it predicted a 2025 deficit of 118 million ounces. The institute states that due to conservation measures (reducing usage) and substitution of other materials for silver in the photovoltaic sector, industrial silver processing is expected to decline by 2% in 2026, reaching a four-year low of 650 million ounces. Jewelry demand is expected to decline for the second consecutive year, down 9% to 178 million ounces, the lowest level since 2020, due to record-high prices impacting demand in major markets like India. Silverware demand is projected to fall by 17%, with India experiencing the most significant decline.

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