Silver's Demand Soars: Low Recycling, High Imports Fuel Its Rise as New Favorite

• Silver has seen one of its strongest years in over a decade, with demand surging across industrial buyers, retail investors, and exchange-traded products.
• India's industrial silver consumption has risen by 10-15% this year, even as prices nearly doubled, driven by electronics and solar components.
• Retail buying, especially of silver kilo bars, has significantly increased as investors seek a cheaper alternative to gold amid global uncertainty.
• Recycling activity has dropped to 6-8% of overall supply, down from a typical 10%, as consumers hold silver, indicating strong bullish sentiment.
• India's silver imports are projected to be 2-3 times higher than last year due to robust domestic demand and limited recycling inflows.

Why It Matters: Silver's surging demand and price reflect its growing economic and investment significance.