IC（Integrated circuits） are a crucial component of emerging electronic consumer terminals. What is the state of the integrated circuit industry chain and market size? Which process links involve the consumption of precious metal silver? What is the annual silver consumption level in the semiconductor packaging link? SMM has compiled the following information based on publicly available data and interviews.

The silver market is experiencing a perfect storm of supply constraints and growing demand that has led to a significant market imbalance. This imbalance has contributed to silver's impressive performance, with prices rising approximately 28% year-to-date, making it one of the best-performing commodities in the current market.

In July 2025, silver production continued its upward trend, increasing by approximately 1.4% MoM from June. As silver prices reached new highs in July, the by-product revenue from lead smelters was substantial, leading to positive growth in silver by-product production from lead smelters.