Polysilicon price reaches new high at $66/kg, government takes action

From pv magazine Global | via the Chinese PV Industry Brief

The China Nonferrous Metals Industry Association said the price of polysilicon reached CNY 312 (US$45.47/AU$65.8)/kg this week – the highest level ever recorded. The Ministry of Industry and Information Technology, the State Administration for Market Regulation, and China’s National Energy Administration have asked regional authorities to take action to halt price increases in the polysilicon industry. In a joint statement, the government agencies invited all regional authorities to coordinate their efforts to reduce prices. The notification encourages in-depth cooperation between polysilicon and wafer producers, wafer and cell producers, module and inverter manufacturers, and PV glass makers. It calls for the creation of strategic alliances, long-term agreements, and technical cooperation.

Longi recorded CNY 50.42 billion of revenue in the first up, with 43.64% year on year. Its net profit attributed to shareholders was CNY 6.48 billion, up 29.79% year on year. In the second quarter, the company posted revenue of CNY 31.82 billion and a net profit attributed to shareholders of CNY 3.82 billion. PV module shipment hit 18.02 GW in the first half, with just 320 MW for its own projects. Longi said it expects its total module shipments to reach the 50 GW to 60 GW range in 2022,  for a 30% share of the Chinese module market.

Author: Vincent Shaw