CITIC Securities: Global Silver Supply Deficit Likely to Persist Long-Term, Favorable for Sector Allocation Value
CITIC Securities' research report suggests that under the dual influence of stagnation in primary ore growth and the accelerated penetration of N-type batteries, the global silver supply deficit is likely to persist long-term. In the future, as industry chain inventory continues to deplete, the correlation between silver prices and supply-demand dynamics is expected to recover, potentially boosting the long-term central price of silver. With the synchronized restocking both domestically and internationally and the global economic recovery, the industrial attributes combined with the delayed realization of investment attributes are expected to catalyze high elasticity in silver prices. The current point of elasticity recovery in silver prices is gradually approaching, making the allocation value of the silver sector favorable. It is recommended to focus on companies with high purity in their mined silver business.
