polysilicon

Polysilicon manufacturer Daqo has announced the start of pilot production in Xinjiang and expects to ramp up to full output by the end of the year, doubling the company’s annual capacity to 70,000 MT. Some 90% of its poly will be mono by that stage and Daqo expects 40% to be suitable for n-type products next year.

The polysilicon maker has turned a quick $160 million profit from the sale of its stake in a fund it paid $189 million to establish just five months ago. The heavily indebted manufacturer needs to raise funds to pay for its production capacity expenditure.

With the anti-dumping and countervailing duties imposed in November 2013 set to expire nine months ago, the Canadian International Trade Tribunal has extended them for another five years, ruling their expiry would harm the nation’s only domestic manufacturer.

Average spot polysilicon price has crossed below the $8/kg threshold for the first time, according to PVInsights. Market analyst Johannes Bernreuter said, however, that the industry should not read too much into $8/kg as a historical threshold and that prices may rise again in September, driven by strong demand in the Chinese market.

The High Court has approved plans for the Chinese state-owned power company to reassume control of its Hong Kong-listed solar project development business.

China-based polysilicon producer Daqo New Energy Corp has been impacted by weaker than expected financial results for the second quarter of 2019, due to the lack of demand in China and record low polysilicon prices.

The polysilicon manufacturer took a step back in the last quarter to take two steps forward in the next, bringing forward annual maintenance operations at its main production facility to prepare for a solar gold rush expected to start next month.

The Chinese PV group recorded a loss attributable to owners of the company of roughly $141.1 million, as its solar materials division posted a loss of approximately $185.5 million.

Daqo New Energy has agreed to supply 112,800 MT of polysilicon to Longi Green Energy Technology. The two parties did not disclose the financial terms of the three-year deal.

Major China-based polysilicon producer, Xinte Energy has signalled a significant decline in expected profits for the first half of 2019, due to polysilicon ASPs declining 43% from the prior year period.