TSI data shows that in 2022 and 2023, the global silver supply was 31,250 and 31,440 metric tons respectively, up 0.8% and 0.6% on the previous years. Image: TSI
The global price of silver has continued to rise, with the average price increasing from RMB5,330/kilogram (US$23.49/ounce) in mid-May 2023, to the current price on 20 May of RMB8,211/kilogram (US$32.03/ounce). This is a historic high, with prices still on the rise.
The latest report from the Silver Institute (TSI) points out that in recent years, the growth in silver mineral supply has been far behind the growth in demand. With the strong demand growth driven by PV renewables and semiconductor industries, there has been a supply deficit for silver for three consecutive years.
(The above content is reproduced from pv-tech，By Carrie Xiao）
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