Rising polysilicon rates even more enhance Daqo's profits
- Daqo New Energy Corp (NYSE: DQ) last week reported record-high manufacturing quantity and also internet earnings in the 3rd quarter of 2021 as polysilicon market prices rose additionally.
The Chinese supplier of polysilicon for the solar sector stated prices continued to raise on "stronger-than-expected" downstream demand, driven by worldwide environment change policies as well as fast increase of green energy usage.
The company's average selling price (ASP) rose by greater than 30% in between the 2nd as well as third quarter to USD 27.55 (EUR 23.8) per kg. Polysilicon average total production expense was USD 6.84 per kg, an increase of regarding 8% quarter-over-quarter.
Details of the business's results:
In USD millions, except suggested otherwise
294.7
"The end market need continues to be strong also under today's high-price module setting," added president Longgen Zhang, which has even more risen polysilicon market value to USD 33-35 per kg right now.
The company additionally noted on prepare for a significant 400-GW wind as well as solar park introduced lately by Chinese head of state Xi Jinping at the United Nations Biodiversity Conference in Kunming. Building on the initial phase of 100 GW of wind as well as solar in deserts in China is underway and also the complete 400-GW project would be half-finished by 2025, according to Daqo's declaration.
Daqo claimed that with USD 1.4 billion in liquidity it can support its growth projects and also future plans to award investors.
In the first nine months of 2021, the Firm generated 62,970 tonnes of polysilicon and offered 63,714 tonnes, with its facilities going for complete utilisation. For the full year, it anticipates to produce 83,000 to 85,000 tonnes.
Daqo presently has yearly capability of 70,000 tonnes as well as an additional 35,000 tonnes is set to reach full capability by the end of the first quarter of 2022.
