China's polysilicon prices surge on hope about solar-panel competition curbs
solar-panel industry
While
the vow by Beijing last week did not specify sectors, there was some speculation that solar panels would be included in the government campaign. Polysilicon prices rose between 6.3 per cent and 6.9 per cent in the week through Wednesday, according to data from an industry association, the most since August 2023.
China's solar industry is grappling with
overcapacity and fierce competition , and a slew of measures since late last year to reduce output and set a price floor have so far failed to halt losses. A new policy also came into effect at the start of June that removed pricing protections on solar projects.
'We believe the target from the government is just to end the price war, not to help the industry's average selling price to recover,' said Dennis Ip, an analyst at Daiwa Capital Markets. 'And we believe the market has not realised that.'
The nation's polysilicon sector still needed a 'critical stage' of deep adjustment and capacity liquidation, according to the China Silicon Industry Association, which provides data on prices. The group said the most expensive N-type material was priced at 37,100 yuan (US$5,169) per ton, the highest since June 4.
China's Ministry of Industry and Information Technology also held a meeting with 14 solar companies last week, pledging to strengthen its guidance for the industry to help solve its 'urgent problems', according to a statement. The gathering, which was attended by Minister Li Lecheng, added to optimism about government measures to address overcapacity.
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