Daqo 'sold out' of polysilicon for 2022 after new 30,000 MT deal
- Polysilicon producer Daqo New Energy's has actually signed a long-lasting supply contract for high-purity mono-grade polysilicon for an overall amount of 30,000 MT in between 2022 and end of 2026, basically selling out its stock for this year.
" With this contract and various other existing contracts, our available capacity of this year has already been completely scheduled," stated Longgen Zhang, CEO of Daqo New Energy.
Daqo did not divulge the name of the Chinese solar manufacturing business it authorized the 30,000 MT contract but stated that both volume as well as prices would certainly be discussed on a month-to-month basis in between both celebrations.
Zhang included: "As constantly, we will certainly concentrate on our core business by increasing our capacity growth and also providing high quality items to contribute our initiative to the fast-growing solar PV market."
A development that began at the beginning of the year with Daqo New Energy infusing $1.6 billion to a subsidiary in order to enhance polysilicon manufacturing projects in Inner Mongolia, with a first phase of 100,000 MT high-purity polysilicon.
Later in January, Daqo New Energy anticipated a five-fold boost profit for its Xinjiang subsidiary as it continued its expansion plans.
Last year, during its Q3 results the company claimed it targeted to reach a manufacturing capacity of 270,000 MT by the end of 2024.