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Multiple industry reports and news outlets describe a persistent structural deficit in the silver market since 2021, with cumulative shortfalls approaching roughly 800 million ounces and 2025 deficits...
Most credible, peer‑cited counts place annual primary in 2024–2026 at roughly 800–835 million ounces and secondary (recycled) supply in the 180–195 million ounce range, leaving total accessible supply...
The publicly available reporting identifies a small set of companies and national smelting networks as the principal producers of —prominently ’s Industrias Peñoles (named as the world’s top producer ...