Solar underpins record high industrial demand for silver

The Silver Institute and Metals Focus says global silver demand in 2024 will largely grow due to gains from green economy applications, especially the PV sector. It expects the global silver market to show a physical deficit of around 182 million ounces in 2024, marking the fourth consecutive year of shortfall. Demand for silver across industrial applications is expected to increase 7% year on year in 2024, reaching 700 million ounces (Moz), according to year-end estimates from the Silver Institute and consultancy Metals Focus. The institute said the growth in industrial demand has been "underpinned ...

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