L R AS Published on Monday 14 February 2022 - n° 393 - Categories:cells
What price will silver metal fetch in 2022?
The average silver price is expected to fall by 1% to $24.80/ounce this year. This compares with $25.14/ounce in 2021. This price was 5% higher than in 2020, on the back of 10% additional global demand for the metal.
According to the Silver Institute, global demand for industrial silver is expected to grow by 8% this year, driven by strong demand in all key sectors, including the photovoltaic industry. It is expected to reach 111 billion ounces by 2022.
This increase will be driven by record industrial silver manufacturing, which is expected to improve by 5%, as the use of silver expands in traditional and critical green technologies. As a result, the outlook for silver use in the photovoltaic (PV) industry remains bright. This American body notes that demand for panels will exceed 200 GW, but it has not assessed the photovoltaic industry's demand for silver metal.
Photovoltaic producers are trying to reduce the silver content of solar cells. This process has been underway since 2016. They predict that the average 111 mg of the precious metal required for each solar cell in 2019 will nevertheless fall to 80 mg by 2030. Even if the price of silver were to rise, it is expected that the need for silver metal will continue to increase.
PV Magazine, 10 February 2022
Editor's note In 2021 compared with 2020, demand increased by 10%, resulting in an average rise in the price of silver metal of 5%. For 2022 compared with 2021, demand should increase by 8% and the price of this metal should fall!
It is rare for a professional body not to announce a rise in prices over the coming year.
