The industry generated record-high demand for silver in 2022 and 2023. And the silver market is in deficit.
The photovoltaic industry is fueling global demand for silver, and more than expected, because solar panels need silver. Added to this is the construction of power grids and a growing number of electric vehicles. Last year, silver demand exceeded supply for the third year in a row. Today, an ounce of silver costs just under 28 US dollars. At 32.50 US dollars per troy ounce, silver set a record price in May. After all, silver is both an industrial metal and an investment metal. This year, the supply deficit appears to be getting worse.
Around a quarter of all silver in demand comes from recycling, with the remainder resulting from silver production in mining. Silver is usually a by-product when other metals are mined. So if more silver is needed, this hardly affects the mining capacities. And when it comes to silver, the ore content in the mines is also falling. Around half of the silver mined comes from China, Mexico and Peru. Silver production is forecast to rise by around three percent this year, but the amount of silver recycled is expected to fall by three percent. Silver is therefore likely to remain in deficit in 2024.
Demand for silver is expected to increase by around three percent annually. While around 14% of total production will be used in photovoltaic solar cells in 2023, industry experts expect this figure to rise to more than 30% by 2030. Even if silver is saved in production in other sectors, there should still be enough to meet rising silver demand. The price of silver should therefore rise, which should make companies with silver in their projects happy.
Discovery Silver - https://www.commodity-tv.com/play/discovery-silver-good-progress-on-one-of-the-worlds-largest-undeveloped-silver-deposits/ - owns silver-zinc-lead projects in northern Mexico, including the highly prospective Codero project, a world-leading silver project.
Sierra Madre Gold and Silver - https://www.commodity-tv.com/play/sierra-madre-gold-and-silver-has-started-production-at-la-guitarra/ - has projects in Mexico that contain gold and silver. This includes the revitalization of the La Guitarra mine as well as the exploration and development of the Tepic property.
Current company information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/de/unternehmen/sierra-madre-gold-and-silver-ltd/ -) and Discovery Silver (- https://www.resource-capital.ch/de/unternehmen/discovery-silver-corp/ -).
In accordance with §34 WpHG, I would like to point out that partners, authors and employees may hold shares in the companies mentioned and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.
Disclaimer: The information provided does not constitute a recommendation or advice. The risks involved in securities trading are expressly pointed out. No liability can be accepted for damages arising from the use of this blog. I would like to point out that shares and in particular warrant investments are always associated with risk. The total loss of the capital invested cannot be ruled out. All information and sources are carefully researched. However, no guarantee is given for the correctness of all content. Despite the utmost care, I expressly reserve the right to make errors, particularly with regard to figures and prices. The information contained herein comes from sources that are considered reliable, but in no way claims to be accurate or complete. Due to court rulings, the contents of linked external pages are also to be answered for (e.g. Hamburg Regional Court, in the ruling of May 12, 1998 - 312 O 85/98), as long as no explicit dissociation from these is made. Despite careful control of the content, I assume no liability for the content of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/....
The photovoltaic industry is fueling global demand for silver, and more than expected, because solar panels need silver. Added to this is the construction of power grids and a growing number of electric vehicles. Last year, silver demand exceeded supply for the third year in a row. Today, an ounce of silver costs just under 28 US dollars. At 32.50 US dollars per troy ounce, silver set a record price in May. After all, silver is both an industrial metal and an investment metal. This year, the supply deficit appears to be getting worse.
Around a quarter of all silver in demand comes from recycling, with the remainder resulting from silver production in mining. Silver is usually a by-product when other metals are mined. So if more silver is needed, this hardly affects the mining capacities. And when it comes to silver, the ore content in the mines is also falling. Around half of the silver mined comes from China, Mexico and Peru. Silver production is forecast to rise by around three percent this year, but the amount of silver recycled is expected to fall by three percent. Silver is therefore likely to remain in deficit in 2024.
Demand for silver is expected to increase by around three percent annually. While around 14% of total production will be used in photovoltaic solar cells in 2023, industry experts expect this figure to rise to more than 30% by 2030. Even if silver is saved in production in other sectors, there should still be enough to meet rising silver demand. The price of silver should therefore rise, which should make companies with silver in their projects happy.
Discovery Silver - https://www.commodity-tv.com/play/discovery-silver-good-progress-on-one-of-the-worlds-largest-undeveloped-silver-deposits/ - owns silver-zinc-lead projects in northern Mexico, including the highly prospective Codero project, a world-leading silver project.
Sierra Madre Gold and Silver - https://www.commodity-tv.com/play/sierra-madre-gold-and-silver-has-started-production-at-la-guitarra/ - has projects in Mexico that contain gold and silver. This includes the revitalization of the La Guitarra mine as well as the exploration and development of the Tepic property.
Current company information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/de/unternehmen/sierra-madre-gold-and-silver-ltd/ -) and Discovery Silver (- https://www.resource-capital.ch/de/unternehmen/discovery-silver-corp/ -).
In accordance with §34 WpHG, I would like to point out that partners, authors and employees may hold shares in the companies mentioned and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.
Disclaimer: The information provided does not constitute a recommendation or advice. The risks involved in securities trading are expressly pointed out. No liability can be accepted for damages arising from the use of this blog. I would like to point out that shares and in particular warrant investments are always associated with risk. The total loss of the capital invested cannot be ruled out. All information and sources are carefully researched. However, no guarantee is given for the correctness of all content. Despite the utmost care, I expressly reserve the right to make errors, particularly with regard to figures and prices. The information contained herein comes from sources that are considered reliable, but in no way claims to be accurate or complete. Due to court rulings, the contents of linked external pages are also to be answered for (e.g. Hamburg Regional Court, in the ruling of May 12, 1998 - 312 O 85/98), as long as no explicit dissociation from these is made. Despite careful control of the content, I assume no liability for the content of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/....
