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Shares of Chinese producers of polysilicon used in solar panels are sliding across the board on news that the Chinese government plans to step in to curb surging silicon prices. Xinjiang Daqo New Energy is sliding nearly 8%, Wuxi Shangji Automation down 4.8%, Tongwei Co. Ltd down 3.7%.
Industry data shows that the prices of polysilicon in China have surged to the highest level in ten years boosted by robust demand from clean energy industries and limited supply.
China’s government is preparing to intervene to halt soaring polysilicon prices that have suppressed demand for solar panels. The Ministry of Industry and Information Technology is in the midst of “intensive progress” in leading relevant departments to coordinate on the issue, according to Wang Bohua, head of the China Photovoltaic Industry Association, at an industry forum last week.
In addition, Lv Jinbiao, deputy director of silicon segment of the China Nonferrous Metals Industry Association, said at a recent event that retail sales of silicon materials are expected to decline in the fourth quarter of the year from the end of 2021, and as silicon supply is expected to increase next year, the price will unlikely to see strong rally similar to this year.