The main intermediate material of the solar panel is the cell… The price of silver paste, which is used in cell production, is at the lowest levels of the last year.
Silver paste gets its value directly from the silver market. When we drop the dollar index on the silver and gold charts of the last year, we can see the relationship between them. Silver acts together with gold to create its market value. As we can see in the same chart, the dollar index is a strong determinant against gold and silver. During periods when the dollar index strengthens, gold and silver depreciate. The weakening to be seen in the dollar index in connection with the continuation of the highest inflation increase in recent years in the USA will create an upward pressure on gold and silver prices.
With this; Another determinant on the price of silver is industrial use. 10% of the silver consumed in industry is used in the photovoltaic sector. Increasing demand for solar panels will also put upward pressure on silver paste prices next year.
Considering the decreasing effect of the pandemic, increasing the industrial production capacity; silver, gold and accordingly silver paste prices should be expected to be in an upward trend in the first two quarters of next year.
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