The China Nonferrous Metals Industry Association (CNMIA) says solar polysilicon prices will remain stable this week despite strong price intentions from producers, as unresolved downstream demand issues hamper sales potential.
The CNMIA has released data showing solar polysilicon prices holding steady this week despite strong price intentions from manufacturers. Prices for n-type material range from CNY 37,000 ($5,193) to CNY 44,000 per ton, with an average of CNY 41,700. N-type granular silicon costs between CNY 36,000 and CNY 37,500 per ton, with an average of CNY 37,300. Monocrystalline refeed material ranges from CNY 35,000 to CNY 40,000 per ton, with an average of CNY 36,400, while monocrystalline dense material is between CNY 33,000 and CNY 36,000, with an average of CNY 34,500. The CNMIA said unresolved downstream demand issues are limiting sales potential. The number of businesses operating at reduced capacity or undergoing maintenance has increased to 14, with many businesses operating below 50% capacity. As the winter dry season approaches, electricity costs have risen to about 1.5 times their previous levels, pushing up polysilicon production costs in provinces such as Sichuan and Yunnan that previously relied on cheap hydropower. As a result, local production capacity is likely to continue operating at low levels or undergo routine maintenance.
Run energy said its 13 GW n-type high-efficiency solar cell factory in Qujing, Yunnan province, had fully resumed production by mid-October 2024, with a significant backlog of orders. Backed by its major shareholder, Yueda Group, Runergy plans to methodically ramp up production at its cost-effective domestic battery production sites. Earlier in October, Tongwei Group expressed interest in acquiring a controlling stake in Runergy.
Daqo New Energy announced an unaudited loss of $60.7 million for the third quarter, on revenue of $198.5 million. Polysilicon production volume fell from 64,961 tonnes in the second quarter to 43,592 tonnes (MT) in the third quarter. It said Wang Xiyu has also resigned from his positions as board director, general manager and committee member due to a reshuffle of roles within the company. The company has appointed Zhu Wengang as the new general manager and nominated him as a candidate for a non-independent director on the company’s third board. Zhu previously held the position of vice president and general manager of Daqo’s manufacturing base in Xinjiang.
Xinte energyy announced a net loss of CNY1.40 billion on revenue of CNY16.46 billion, according to its unaudited results for the nine-month period ended September 30, 2024.
Energy China said it reported revenue of CNY295.139 billion for the first three quarters of the year, up 3.44% year-on-year. The company posted a net profit of CNY 3.604 billion, an increase of 17.28%. In the renewable energy and integrated smart energy segments, it registered a 19.4% increase in the number of new contracts signed and a 10.1% increase in revenue. It said it has also secured 12.88 GW of new wind and solar energy development indicators for the reporting period, bringing the total to 63.06 GW, with a total installed capacity of more than 11.64 GW.
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