Silver's industrial demand story is shifting beyond solar. Late-September headlines around satellites, 5G networks and grid batteries added only negligible new demand — well under 0.1 million ounces — but non-solar electronics demand is forecast to grow from 262.9 to 271.9 million ounces this year. Solar's 35.6-million-ounce decline still outweighs that gain, even as the market heads for another annual supply shortfall.
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