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Ronan Manly: Surging industrial demand for silver will increase 'structural deficit'
By Ronan Manly
Bullion Star, Singapore
Saturday, December 16, 2023
There has been a significant imbalance in the physical silver market for the last three years with annual silver demand exceeding annual silver supply.
This is a problem, since when silver demand is greater than silver supply, the extra demand (deficit) must be met by eating into the world's finite and limited above-ground silver stockpiles.
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This silver deficit has been so persistent and systemic that it is being described by the Silver Institute as a "structural deficit" -- a prolonged deficit that is due to underlying "structural" factors (technological advances and a sharply growing industrial demand) in an environment where supply (mine production and recycling) is unable to adjust upwards to keep pace with demand. ...
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