Demand for silver in the PV industry increased by 64% from 118.1 million ounces (Moz) in 2022 to 193.5 Moz in 2023
report forecasts the demand could increase a further 20% this year, reaching 232 Moz
Total silver demand fell by 7% last year, from 1,278.9 Moz in 2022 to 1,195.0 Moz in 2023
a rise projected this year
average price for silver stood at $23.35 per ounce in 2023, up from $21.73 per ounce in 2022