Global Silver Market Expected to Remain in Deficit This Year

According to Financial News, the global silver market is expected to remain in a structural supply deficit for the sixth consecutive year.
On the 15th (local time), U.S. media outlets cited the annual outlook report from The Silver Institute, an industry association, and reported that "the global silver supply deficit in 2026 is projected to reach 46.3 million ounces, 15% larger than last year."
Total demand for silver is expected to fall by 2% from a year earlier due to weaker industrial use and lower consumption of silver jewelry. Even so, analysts say global silver supply will still fail to keep up with demand.
International silver prices had already surged 147% over the course of 2025, then climbed to around 121 dollars per ounce in January, marking an all-time high.
However, growing concern over the steep price rally has recently pushed silver prices down more than 30% from their peak. Some analysts say the correction was exacerbated as investors, seeking to navigate heightened volatility, moved to lock in profits on silver after its sharp run-up.
The Silver Institute stated, "If cyclical risk assets come under forced selling pressure and investor preference for safe-haven assets returns, interest in gold and silver investments is likely to reignite."
whywani@fnnews.com Hong Chae-wan Reporter