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Understanding the Global Silver Supply Deficit
Silver supply has lagged demand for years, creating shortages that may support prices if industrial consumption remains strong.
The silver market is witnessing its sixth straight year of structural supply deficit in 2026. While global mine production has plateaued near 830 million ounces and total demand is approaching 1.3 billion ounces. This creates a substantial shortfall of nearly 400 million ounces annually. Persistent deficits are steadily reducing exchange inventories and available above-ground stocks, tightening overall supply conditions.