Morning Bites (part 2)

🪙 The global silver market remained in heavy physical deficit, of 184mnoz, in 2023 (~15% of demand), remaining broadly in-line with the 21% deficit seen in 2022, according to the World Silver Institute annual report. Despite the slowdown in net physical investment (-28% YoY), the 2023 demand was bolstered by the rapid increases in solar energy installations globally (e.g., +55% YoY in China to 610GW), which accounted for 16% of silver consumption

The World Silver Institute expects the silver market deficit to intensify in 2024F (up to 18% of demand), driven by further growth in renewable energy installations, which supports our bullish view on silver (as a key beneficiary metal of global clean energy transition)

#silver
https://metals-wire.com/news-reports