Polysilicon Prices Forecast to Rise on Chinese Production Cuts [Financial Post (Toronto, Ontario, Canada)]
DAQO New Energy Corp. American Depositary Shares, each representing five ordinary shares (DQ)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The price of polysilicon — a key ingredient in solar panels — should rally through the year-end as producers cut capacity due to a slump in the sector, the China Silicon Industry Association said. The declines in production are being abetted by seasonal factors including a week-long public holiday in early October and drier weather reducing hydropower output and pushing up power costs, the association said in a statement on Wednesday. It didn't give a specific price forecast. Chinese polysilicon prices have tumbled 85% since mid-2022 due to a major build-out of factories that was far more than the market actually needed. There's been a modest recovery since late July, as companies started to dial back output. Daqo New Energy Corp., the No. 3 producer, cut its output guidance for 2024 after posting a massive first-half loss. China's world-leading
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