A new report from Metal Focus reveals that global silver market remains structurally tight, with elevated prices, a fifth consecutive annual supply deficit in 2025, and ongoing mine and recycling constraints despite modest production growth. At the same time, PV-driven silver demand is falling sharply due to cost pressure and thrifting.

In a new recycling process, developed by JM, PGMs are recovered from CCMs without incinerating the perfluorosulfonic acid-based ionomers on which the operation of PEM electrolyzers and fuel cells depend. In a complementary process, developed in parallel by Syensqo, the ionomers are extracted, purified and reconditioned for reuse.

Opportunistic buyers are starting to emerge in the gold market after the biggest selloff in years, helping to keep bullion’s record-breaking three-year bull run intact.