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

Deep Tide TechFlow message: April 15. In its annual outlook released on Wednesday, the World Silver Survey maintained its previous view that the global silver market will face a supply shortage for the sixth consecutive year. The report said the 2026 supply shortfall is expected to widen by 15% to 4630万 troy ounces. Despite a 18% growth in demand for silver bars and silver coins, demand for industrial, photography, jewelry, and silverware is falling, so total consumption may drop by 2%. Supply is expected to decline by 2%, mainly due to a slight drop in mined output and reduced hedging, but a 7% increase in recycling will partially offset this.

The report said that although the Iran war casts a shadow over short-term price prospects, it still has a “constructive view” of silver for the remainder of 2026. The association expects the Middle East conflict to be contained, and that tightening monetary policy to curb energy inflation will be temporary. Even if the war continues, concerns about weak growth and fiscal tightness may suppress real bond yields, thereby boosting interest in non-interest-bearing precious metals such as silver and gold. The report wrote: “Coupled with safe-haven demand recovering as cyclic market liquidations take place, this should reignite interest in gold and silver.”(Jin10)