Silver Rate Statistics in US 2025 | Key Facts

Silver Rate in US 2025

The silver rate in US 2025 has witnessed unprecedented growth, marking one of the most remarkable performances in precious metals history. The precious metal started the year trading around $30 per troy ounce in January and surged to historic peaks exceeding $80 per troy ounce by late December, representing an astounding gain of approximately 166% throughout the year. This explosive growth has been driven by a perfect storm of factors including persistent supply deficits, surging industrial demand from solar panels and electric vehicles, strategic positioning as a critical mineral by the US government, and heightened investment interest amid geopolitical uncertainties and inflation concerns.

The transformation of silver price dynamics in the US 2025 reflects a fundamental shift from viewing silver merely as a precious metal to recognizing it as an essential industrial commodity critical to national security and economic prosperity. The US Department of the Interior officially designated silver as a critical mineral in November 2025, joining uranium and copper on the prestigious list of 60 minerals deemed essential for economic and national security. This designation acknowledges silver’s irreplaceable role in technologies ranging from solar panels and electric vehicles to semiconductors and medical instruments, positioning the metal at the intersection of renewable energy transition, technological innovation, and strategic resource security.

Interesting Facts and Latest Silver Rate Statistics in the US 2025

Data source: U.S. Geological Survey Mineral Commodity Summaries 2025, Silver Institute World Silver Survey 2025

The silver rate statistics in the US 2025 reveal remarkable momentum that has captured global attention. The metal achieved its all-time record high of $81.00 per troy ounce in late December 2025, smashing the previous record set in 1980 and representing nearly triple the value from just 12 months earlier. This historic rally has been characterized by extreme volatility, with silver experiencing its largest single-day drop in over five years when prices plunged more than 9% on December 30, falling from the $81 peak to approximately $72 per ounce due to profit-taking after the year-end rally. Despite this correction, silver remains positioned for approximately 166% annual gains, one of its strongest performances since 1979, easily outpacing gold’s 73% increase and the S&P 500’s 18% advance.

The US silver production landscape in 2025 demonstrates the country’s significant but import-dependent position in the global silver market. US mines produced approximately 1,100 metric tons of silver in 2024 with an estimated value of $960 million, representing a 6% increase from 2023 production levels. Silver was extracted from 4 primary silver mines and as a byproduct or coproduct from 31 domestic base and precious-metal operations across 12 states. Alaska maintained its position as the country’s leading silver-producing state, followed by Idaho, with notable production also coming from Nevada. The 24 US refiners reported total commercial-grade silver output of 2,400 metric tons from domestic and foreign ores, concentrates, and recycled scrap. However, the United States’ net import reliance stands at 64%, meaning the nation imports approximately two-thirds of its silver consumption, primarily from Mexico (44%), Canada (17%), Republic of Korea (5%), and Poland (5%).

US Silver Price Trends and Performance in the US 2025

Data source: Trading Economics, CME COMEX data, S&P Global Platts Metals Week, CNBC Market Data

The silver price trajectory in the US 2025 tells a compelling story of exponential growth punctuated by strategic consolidation periods. The year began with silver trading in the $28.92 to $30.00 range in early January, as investors digested year-end profit-taking and adjusted expectations around Federal Reserve interest rate policies. By April 2025, prices experienced a brief setback to $29.58 per ounce following the introduction of President Trump’s widespread tariff policies, which created uncertainty about industrial demand despite silver not being directly subject to tariffs. However, this proved to be merely a temporary pause before the metal’s historic ascent began in earnest.

The second half of 2025 witnessed silver rate acceleration in the US that exceeded even the most bullish forecasts. September saw prices surge to $44.31 per ounce, representing a 53% gain from April levels, driven primarily by escalating geopolitical tensions and increased safe-haven demand as global uncertainties intensified. October marked a watershed moment when silver reached $54.48 per ounce on October 17, establishing a new record high at that time and triggering widespread recognition of the metal’s supply squeeze. The momentum continued building through November, with prices breaking through $57.16 and approaching $60 per ounce by month’s end, fueled by the official designation of silver as a critical mineral and unprecedented inflows into silver exchange-traded products totaling 187 million ounces through November. December delivered the crescendo, with silver decisively breaking $60 on December 9, advancing to $64.20 on December 11, and ultimately reaching the historic peak of $81.00 per troy ounce on December 29 before profit-taking triggered a sharp but contained correction. Despite the 9% single-day decline on December 30, the year concluded with silver trading around $73 per ounce, securing year-to-date gains approaching 166%.

US Silver Mine Production by State in the US 2025

Data source: U.S. Geological Survey Mineral Commodity Summaries 2025, Mine Safety and Health Administration (MSHA)

The geographic distribution of silver production in the US 2025 reveals a concentrated mining landscape dominated by three states that collectively account for the majority of domestic output. Alaska stands as the undisputed leader in US silver production in 2025, with operations like Hecla Mining’s Greens Creek mine and Teck Resources’ Red Dog mine producing an estimated 37% of all silver mined in the United States. The Greens Creek mine, located in Southeast Alaska, holds the distinction of being the largest silver mine in the United States and produced approximately 8.45 million troy ounces of silver annually, making it a cornerstone of domestic production. The Red Dog mine, primarily a zinc operation and the world’s largest zinc source, contributed an additional 7.56 million troy ounces of silver as a byproduct of its lead and zinc operations, demonstrating the significant role that polymetallic mining plays in US silver supply.

Idaho’s silver mining legacy in the US 2025 continues through the historic Coeur d’Alene district in Shoshone County, which has produced more silver than any other mining district in the United States and ranks among the top three globally with over 1.2 billion troy ounces of lifetime production. Currently, the Lucky Friday mine, owned by Hecla Mining and ranking as the third largest in the US, resumed full production in January 2024 after recovering from an August 2023 fire, producing approximately 3.0 million troy ounces annually. The Galena Complex, operated by Americas Gold & Silver, adds further production through its Galena and Coeur mines, collectively contributing approximately 1.54 million troy ounces per year. Nevada maintains its significance through the Rochester Mine, operated by Coeur Mining, which stands as the only operating primary silver producer in Nevada and the second largest in the entire United States, producing approximately 4.6 million ounces of silver alongside gold from its open-pit heap leaching operation. The remaining production across Montana, Arizona, California, Colorado, New Mexico, South Dakota, and Utah primarily comes as byproducts of copper, gold, lead, and zinc mining operations, reflecting the reality that more than two-thirds of silver is obtained as a secondary product rather than from primary silver mines.

US Silver Demand and Consumption Patterns in the US 2025

Data source: U.S. Geological Survey Mineral Commodity Summaries 2025, Silver Institute estimates

The silver consumption patterns in the US 2025 reveal the metal’s dual nature as both an investment vehicle and an indispensable industrial commodity. Physical investment in bars represents the largest single category at 30% of domestic use, reflecting silver’s enduring appeal as a store of value and hedge against inflation, particularly during periods of economic uncertainty and currency volatility. This investment demand has intensified throughout 2025 as silver’s dramatic price appreciation attracted both retail and institutional investors seeking exposure to precious metals amid concerns about stagflation, Federal Reserve policy independence, and government debt sustainability. The $40 billion in exchange-traded product assets under management and over 95 million ounces of ETF inflows during 2025 demonstrate unprecedented institutional confidence in silver’s investment thesis.

Electrical and electronics applications claim 29% of US silver consumption in 2025, underscoring the metal’s critical role in modern technology infrastructure. Silver’s superior electrical conductivity, surpassing all other metals including copper, makes it irreplaceable in applications ranging from multi-layer ceramic capacitors and membrane switches to electrically heated automobile windshields and conductive adhesives. The photovoltaics sector, accounting for 12% of domestic use, has emerged as one of the fastest-growing demand drivers, with each solar panel requiring approximately 20 grams of silver for its conductive efficiency. Despite manufacturers implementing thrifting techniques to reduce silver content per module due to soaring prices, the explosive growth in global solar installations has sustained overall demand at elevated levels. The shift toward electric vehicles has created additional silver demand, as battery-electric vehicles consume 67-79% more silver than internal combustion engine vehicles, using approximately 25-50 grams per EV in battery management systems, power electronics, and charging infrastructure. The coins and medals segment represents 12% of consumption, jewelry and silverware account for 6%, while brazing and solder applications constitute 4%, with the remaining 7% distributed across photography, antimicrobial medical applications, water purification, catalytic converters, and other industrial uses.

Global Silver Supply Deficit and Market Dynamics in the US 2025

Data source: Silver Institute World Silver Survey 2025, Metals Focus research, CPM Group analysis

The silver supply deficit in the US 2025 reflects a structural market imbalance that has persisted for eight consecutive years, creating the fundamental conditions for sustained price appreciation. Global mine production reached 819.7 million ounces (25,000 metric tons) in 2024, representing minimal growth of just 0.9% despite surging prices that traditionally incentivize increased output. This production constraint stems from the reality that approximately 70% of silver comes as a byproduct from copper, lead, and zinc mines rather than from primary silver operations, meaning producers cannot simply ramp up silver extraction in response to price signals without corresponding demand for the host metals. Mexico remained the world’s leading silver producer at 24.5% of global supply, followed by China, Peru, Bolivia, and Chile, while domestic US production contributed 1,100 metric tons to the global total.

The widening supply-demand gap in 2025 has created unprecedented market tightness that manifested in record-high lease rates and physical delivery pressures at major exchanges. Total global silver demand reached an estimated 1.24 billion ounces in 2025, exceeding available supply by approximately 206 million ounces according to CPM Group forecasts, marking the eighth consecutive year of structural deficits. This cumulative shortfall has now exceeded 884 million ounces since 2021, equivalent to more than the entire annual production of Mexico, the world’s largest producer. Industrial demand, while moderating slightly to 665 million ounces in 2025 from 2024’s record 680.5 million ounces, remained historically elevated as solar panel installations set new records and electric vehicle production continued expanding despite economic headwinds. Investment demand surged dramatically with exchange-traded product holdings increasing by approximately 18% through November, generating year-to-date inflows of 187 million ounces, reflecting investor concerns over stagflation, geopolitical risks, and the metal’s favorable supply-demand dynamics.

Silver as a Critical Mineral in the US 2025

Data source: U.S. Geological Survey Federal Register Notice, Department of Interior Critical Minerals List 2025

The critical mineral designation for silver in the US 2025 represents a watershed moment in the metal’s strategic importance, officially recognizing it as essential to American economic prosperity and national security for the first time in history. On November 7, 2025, the US Department of the Interior published the final 2025 List of Critical Minerals in the Federal Register, expanding the roster from 50 minerals in 2022 to 60 minerals through the addition of ten new entries including boron, copper, lead, metallurgical coal, phosphate, potash, rhenium, silicon, silver, and uranium. This designation emerged from the US Geological Survey’s enhanced methodology that quantified potential supply chain disruption risks to the US economy and national security, assessing over 1,200 disruption scenarios across 84 mineral commodities and their impacts on 402 individual industries.

The strategic implications of silver’s critical mineral status in 2025 extend far beyond symbolic recognition, triggering concrete policy support mechanisms designed to secure domestic supply chains. Silver’s inclusion on the list acknowledges its irreplaceable role across multiple high-priority sectors including electrical circuits, batteries, solar cells, and antimicrobial medical instruments, while recognizing that the United States’ 64% import reliance creates significant vulnerability to supply disruptions. The designation strengthens eligibility for the Fast-41 program, a government initiative that streamlines permitting processes for critical mineral projects, potentially accelerating development of domestic silver resources like Apollo Silver’s Calico Project in California, which hosts the country’s second-largest primary silver deposit with 125 million ounces in measured and indicated resources. The critical mineral status also positions silver projects for enhanced consideration under federal subsidies, grants, tax incentives, and strategic stockpiling initiatives, while attracting increased investor attention to the domestic silver mining sector. With silver now joining uranium and copper as minerals deemed strategic to defense and national security, the designation signals a fundamental shift in how policymakers view the metal—not merely as a precious commodity but as an essential material for technological leadership, renewable energy deployment, and industrial competitiveness in an increasingly electrified and digitized economy.

Silver Price Forecast and Future Outlook in the US 2025-2026

Data source: Bank of America Research, BNP Paribas Commodities, Metals Focus, CBS News expert forecasts

The silver price outlook for 2026 in the US remains overwhelmingly bullish among precious metals analysts and investment experts, with forecasts ranging from conservative targets around $60 per ounce to aggressive projections approaching $100 per ounce depending on how supply-demand dynamics and macroeconomic conditions evolve. Bank of America raised its 12-month silver target to $65 per ounce following the metal’s breakout above previous records, citing narrowing real yields and strengthening ETF inflows as key catalysts that should sustain elevated prices even if some profit-taking occurs. BNP Paribas has published the most aggressive forecast, suggesting silver could climb as high as $100 per ounce by the end of 2026 as investors increasingly seek safe-haven assets amid persistent inflation pressures, geopolitical tensions, and concerns about government debt sustainability across major economies.

The fundamental drivers supporting higher silver rates in the US 2026 create a compelling case for sustained strength despite the metal’s extraordinary 2025 performance. The Silver Institute projects that global supply deficits will continue through 2026 and potentially beyond, with annual shortfalls expected to exceed 100 million ounces as mine production remains constrained and industrial demand from solar panels, electric vehicles, and data centers continues expanding. Philip Newman, Managing Director at Metals Focus, notes expectations for silver to experience annual supply deficits for the foreseeable future, adding that global consumption would need to fall significantly to rebalance the market—an unlikely scenario given the structural demand from clean energy and technology sectors. Peter Krauth of Silver Stock Investor characterizes silver’s trajectory as reflecting fundamental market tightness, while Matthew Piggott, Director of Gold and Silver at Metals Focus, emphasizes that the convergence of limited mine supply growth, persistent deficits totaling 678 million ounces since 2021, and accelerating technological adoption suggests silver may be entering a multi-year bull market driven by industrial fundamentals rather than monetary policy alone. However, analysts caution that if inflation cools substantially and the Federal Reserve maintains elevated interest rates for an extended period, or if industrial demand slows unexpectedly, silver prices could stabilize or retreat from current levels, making the metal’s performance dependent on balancing multiple economic crosscurrents throughout 2026.

US Silver Reserves and Resources in the US 2025

Data source: U.S. Geological Survey Mineral Commodity Summaries 2025, World Mine Production and Reserves data

The silver reserves in the US 2025 total 23,000 metric tons according to the latest US Geological Survey assessment, representing approximately 3.6% of identified global reserves estimated at 640,000 metric tons worldwide. This reserve base positions the United States as a significant but not dominant holder of silver resources on the global stage, trailing far behind countries like Peru (140,000 metric tons), Poland (61,000 metric tons), Russia (92,000 metric tons), China (70,000 metric tons), and Mexico (37,000 metric tons). At current domestic production rates of approximately 1,100 metric tons annually, US reserves would theoretically support roughly 21 years of mining at present extraction levels, though this calculation assumes no reserve additions through exploration and no changes in production rates—both unlikely scenarios given technological advances and price incentives for exploration.

The geological characteristics of US silver resources in 2025 reveal that silver is primarily obtained as a byproduct rather than a primary product, with more than two-thirds of domestic and world resources consisting of polymetallic ore deposits where silver occurs alongside lead-zinc, copper, and gold in descending order of production importance. This byproduct nature means that silver production is significantly influenced by the economics and demand for these host metals rather than responding solely to silver prices. Although silver serves as the principal product at 4 mines in the United States, the majority of domestic output comes from 31 base and precious-metal operations where silver is recovered incidentally. The US Department of the Treasury maintains strategic stocks of 498 metric tons of silver as part of government reserves, unchanged from previous years and representing a relatively modest holding compared to the scale of annual consumption. Recent silver discoveries have been primarily associated with gold occurrences, though copper and lead-zinc deposits containing byproduct silver continue accounting for a significant share of reserves and are expected to do so in the future, emphasizing the interconnected nature of these mineral commodities in supporting America’s industrial and technological needs.

Silver Recycling and Secondary Production in the US 2025

Data source: U.S. Geological Survey Mineral Commodity Summaries 2025, Silver Institute World Silver Survey 2025

The silver recycling contribution in the US 2025 has reached historically significant levels as elevated prices incentivize recovery of the metal from both industrial processes and consumer goods. In 2024, approximately 1,200 metric tons of silver was recovered from new and old scrap in the United States, accounting for roughly 19% of apparent domestic consumption and representing a notable increase from the 1,150 metric tons recycled in 2023. This secondary production provides a crucial supplementary source of silver that helps partially offset the nation’s substantial import dependence, though recycling alone cannot close the gap between domestic mine production and total consumption requirements.

Globally, silver recycling in 2025 surged to a 12-year high of 193.9 million ounces, rising 6% compared to 2024 levels as firmer silver prices and economic pressures encouraged selling and recovery of silver-containing materials. Industrial scrap led the growth in absolute volume terms, driven primarily by processing of spent ethylene oxide catalysts and other manufacturing residues where silver’s catalytic properties make it economically viable to recover even from dilute sources. In percentage terms, silverware recycling experienced the most dramatic increase at 11%, as cost-of-living concerns in Western markets prompted consumers to sell silver flatware, serving pieces, and decorative items that had been held as heirlooms or stored away for generations. The elevated price environment throughout 2025 has fundamentally changed the economics of recycling, making previously marginal recovery operations profitable and encouraging systematic collection of electronic waste, jewelry scrap, photographic materials, and industrial residues. However, analysts note that even with recycling at multi-year highs, secondary supply cannot keep pace with the combination of growing industrial demand and persistent investment buying, ensuring that the structural supply deficit continues to widen and maintaining upward pressure on silver prices as the market seeks equilibrium between limited available supply and robust multi-sector demand.

Investment Implications and Market Dynamics in the US 2025

The investment landscape for silver in the US 2025 has transformed dramatically as the metal’s performance captured mainstream attention and attracted capital from both retail and institutional investors seeking exposure to the precious metals sector. Silver’s 166% year-to-date gain through December 2025 has substantially outperformed traditional asset classes including gold (73%), the S&P 500 (18%), and even high-flying technology stocks like Nvidia (42%), positioning it as one of the best-performing major assets of the year. This extraordinary return has been accompanied by extreme volatility, with daily price swings occasionally exceeding 5-10% and the metal experiencing both its largest single-day gains and losses in over five years during the December rally and subsequent correction.

The structural factors supporting silver investment in 2025 extend beyond short-term price momentum to fundamental supply-demand dynamics that distinguish this rally from previous speculative bubbles. The persistent eight-year supply deficit totaling over 884 million ounces represents a genuine physical shortage rather than paper market speculation, as evidenced by the dramatic drawdown of London Bullion Market Association vaults from 31,023 metric tons in June 2022 to just 22,126 metric tons by March 2025—a 33% decline that created severe tightness requiring traders to pay lease rates as high as 200% on an annualized basis to close positions. Exchange-traded product inflows of 187 million ounces through November reflect institutional recognition of silver’s dual appeal as both an industrial commodity benefiting from the renewable energy transition and a monetary asset providing portfolio diversification and inflation protection.

However, investment experts emphasize that silver’s volatility demands careful portfolio allocation and risk management. The metal’s 9% single-day plunge on December 30 from the $81 peak to approximately $72 per ounce demonstrates that corrections can be swift and severe, particularly after extended rallies when profit-taking accelerates. Financial advisors typically recommend limiting precious metals exposure to 5-10% of investment portfolios, with silver representing a smaller allocation than gold due to its higher volatility profile and industrial demand sensitivity to economic cycles.

The technical market structure in US silver trading 2025 reveals concerning concentration risks that could amplify both upside and downside price movements. Approximately 62% of silver held at the largest New York Commodity Exchange warehouse by mid-2025 was reportedly controlled by a single brokerage firm, creating conditions reminiscent of past market squeezes and raising questions about potential manipulation or outsized influence by large players. The Commodity Futures Trading Commission has historically maintained vigilance over silver markets due to periodic allegations of price suppression or manipulation, and the extreme price action in late 2025 has renewed scrutiny of position limits and warehouse storage patterns.

Silver Mining Stocks and Equity Performance in the US 2025

The silver mining stock performance in the US 2025 has provided leveraged exposure to the underlying metal’s price appreciation, with major producers delivering triple-digit returns that even exceeded silver’s extraordinary gains. Companies like Hecla Mining, headquartered in Coeur d’Alene, Idaho, and operating the country’s largest silver mine (Greens Creek) and third-largest (Lucky Friday), have benefited immensely from both rising silver prices and operational improvements including the return of the Lucky Friday mine to full production following the 2023 fire. The company’s diversified portfolio of high-grade silver operations positioned across Alaska and Idaho has provided stable production volumes even as prices soared, translating to expanding profit margins and robust free cash flow generation.

Coeur Mining, operating the Rochester Mine in Nevada—the second-largest primary silver mine in the United States—has similarly experienced dramatic share price appreciation as investors recognized the value of its large-scale open-pit operation producing approximately 4.6 million ounces of silver annually alongside gold credits. The company’s heap leach processing methodology provides relatively low-cost production with extended mine life, making it particularly attractive during periods of elevated metal prices. Pan American Silver, though headquartered in Canada, operates significant mines in Mexico and Latin America that supply substantial silver imports to the US market, and its stock performance has reflected investor enthusiasm for pure-play silver producers with diversified geographic operations.

The risk factors for silver mining equities in 2025 include operational challenges that can impact production regardless of metal prices, including permitting delays, labor disputes, environmental compliance costs, and geological complexities that affect ore grades and recovery rates. Mining stocks also face jurisdictional risks, particularly for operations in Mexico and Latin America where changes in mining royalties, environmental regulations, or political attitudes toward foreign investment can materially impact project economics. Additionally, mining equities demonstrate high beta relative to underlying metal prices, amplifying both gains during bull markets and losses during corrections—a dynamic demonstrated when many silver miners declined 15-25% during the late December selloff despite silver itself falling only 9%.

Industrial Applications Driving Silver Demand in the US 2025

The photovoltaic solar industry in the US 2025 has emerged as a critical growth driver for silver demand, consuming approximately 12% of domestic use and representing one of the fastest-expanding application categories. Each solar panel requires an average of 20 grams of silver for the conductive paste that captures and conducts electrons generated when sunlight strikes the photovoltaic cells, with silver’s superior electrical conductivity making it irreplaceable for achieving the efficiency levels demanded by commercial and residential installations. Despite manufacturers implementing aggressive thrifting strategies to reduce silver content per module by 5-10% annually through innovations like multi-busbar designs and silver-coated copper paste, the explosive growth in solar deployments has overwhelmed these efficiency gains, resulting in flat to rising absolute silver consumption.

The electric vehicle revolution in 2025 has created another substantial demand category for silver, with each battery-electric vehicle consuming 67-79% more silver than comparable internal combustion engine vehicles. The typical EV incorporates approximately 25-50 grams of silver across various applications including battery management systems that monitor and regulate charging cycles, power inverters that convert DC battery power to AC for the motor, onboard charging systems, numerous sensors and switches, and the vehicle’s electrical architecture. As global EV production continues expanding despite economic headwinds—driven by government mandates, improving battery technology, and expanding charging infrastructure—this demand source is projected to grow substantially through 2030 and beyond, creating sustained industrial consumption regardless of investment trends.

The electronics and electrical applications in the US 2025 remain the largest industrial demand category, consuming 29% of domestic silver use across thousands of applications where the metal’s unmatched electrical conductivity is essential. Silver is indispensable in multi-layer ceramic capacitors found in virtually every electronic device, membrane switches in appliances and industrial equipment, radio frequency identification tags enabling supply chain management, and printed circuit boards in computers and smartphones. The metal’s use extends to electrically heated automobile windshields that improve cold-weather visibility, LED chips providing energy-efficient lighting, electromagnetic interference shielding protecting sensitive electronics, and conductive adhesives bonding components without traditional soldering. The antimicrobial properties of silver have driven expanding use in medical instruments and hospital surfaces to reduce infection transmission, water purification systems eliminating bacteria without chemical additives, and specialized clothing fabrics inhibiting odor-causing microbes. These diverse applications create resilient demand that persists across economic cycles, as silver’s unique combination of electrical, thermal, and antimicrobial properties makes substitution difficult or impossible in most applications despite the metal’s elevated pricing.

Import Dependencies and Trade Patterns in the US 2025

The US silver import landscape in 2025 reflects the nation’s substantial dependence on foreign sources to meet domestic consumption requirements, with net import reliance standing at 64% of apparent consumption. Total imports for consumption in 2024 reached approximately 4,200 metric tons of silver content from base metal ores and concentrates, ash and residues, refined bullion, and dore, representing a decline from 4,950 metric tons in 2023 but still constituting the majority of silver available for domestic use. This import dependence creates strategic vulnerabilities, particularly given that the supply is concentrated among a relatively small number of source countries.

Mexico maintained its position as the leading source of US silver imports in 2025, supplying approximately 44% of total imports based on 2020-2023 average data, making the bilateral trade relationship critical to American silver supply security. The country’s status as the world’s largest silver producer, contributing roughly 24.5% of global mine output, ensures its continued importance despite potential policy changes or trade friction. Canada provided approximately 17% of US silver imports, benefiting from geographic proximity, integrated North American mining supply chains, and the favorable trade environment maintained under the United States-Mexico-Canada Agreement. The Republic of Korea and Poland each contributed approximately 5% of imports, with the remaining 29% distributed among numerous countries including Peru, Chile, Australia, and others.

Disclaimer: This research report is compiled from publicly available sources. While reasonable efforts have been made to ensure accuracy, no representation or warranty, express or implied, is given as to the completeness or reliability of the information. We accept no liability for any errors, omissions, losses, or damages of any kind arising from the use of this report.

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