Solar Manufacturers Shun Silver Use as Metal’s Price Surges

Global solar manufacturers, the largest industrial consumers of silver, are set to reduce use of the precious metal for the first time in years amid a scorching rally in its price.

Silver demand for solar modules installed this year may drop to 194 million troy ounces, or 6,028 metric tons, down 7% from last year, BNEF analysts led by Yali Jiang wrote in a note.