The projection is for an even larger supply shortfall this year in the neighborhood of 215 million ounces. This would be the second-largest silver market deficit ever recorded.
Samsung's solid-state batteries could significantly impact the silver market, with each battery using up to 1 kg. If 20% of cars adopt this tech, annual demand might reach 16,000 tons.
As of August's Bank Participation Report, 22 banks [both U.S. and foreign] are net short 41.4 percent of the entire open interest in the COMEX futures market in silver — down from the 45.0 percent.
The silver market has been in a structural deficit for four consecutive years, and this situation is becoming more critical due to rapidly increasing demand.
This significant silver requirement for large-scale solar projects like the Stargate AI data center underscores the growing demand for silver in the renewable energy sector.
