World Silver Institute: The global silver market will be in a supply deficit for the sixth consecutive year

ME News, April 15 (UTC+8). In its annual outlook released on Wednesday, the World Silver Survey maintained its prior view that the global silver market will face a supply shortage for the sixth consecutive year. The report said the supply gap is expected to widen by 15% to 46.3 million troy ounces in 2026. Despite an 18% increase in demand for silver bars and coins, demand from industrial, photography, jewelry, and silverware is declining, so total consumption may fall by 2%. Supply is expected to decrease by 2%, mainly due to a slight drop in mining output and reduced hedging, but a 7% increase in recycling will partially offset that decline. The report stated that although the Iran war casts a shadow over near-term price prospects, it still holds a “constructive view” on silver for the remainder of 2026. The association expects the Middle East conflict to be contained, and that tighter monetary policy to curb energy inflation will be temporary. Even if the war continues, concerns over weak growth and fiscal strains may suppress real bond yields, thereby boosting interest in non-yielding precious metals such as silver and gold. The report wrote, “With safe-haven demand rebounding alongside periodic market deleveraging, this should rekindle interest in gold and silver.” (Jin10) (Source: ODaily)