In the latest week, domestic polysilicon market prices continued to fall. According to statistics from the China Non-ferrous Metals Industry Association's Silicon Division, the domestic polysilicon price fell more than 25% throughout the first half of the year.
The fall in prices also led to a decline in the performance of related companies. As of August 2, nearly 10 companies in the A-share solar polysilicon segment have issued 2010 interim results reports or forecasts. The data show that their performance has generally continued to decline since last year, and their net profits have fallen by more than 50%. Some companies have incurred losses.
Analysts pointed out that last year's decline in polysilicon prices has led to the current domestic 80% of polysilicon SMEs into production, but the trend of the major companies to expand production led to overcapacity in the context of low market price competition is difficult to change, coupled with the impact of rising imports of polysilicon In the second half of the year, the domestic polysilicon market is still hard to change.
It is difficult to keep prices down
After the rapid decline in the price of polysilicon photovoltaics last year, the current domestic polysilicon photovoltaic has fallen into a situation of large-scale production suspension. According to statistics of the Silicon Industry Association, from the perspective of the country, 43 polysilicon enterprises have already been put into operation, and only 7 enterprises are still under construction. The rest of the companies have closed the production line, that is, 80% of the enterprises have stopped production.
This situation did not bring about a reduction in market competition pressure, domestic polysilicon prices continued to decline in the first half. According to the statistics of the Silicon Industry Branch, in the first half of this year, the domestic polysilicon price once again fell rapidly and set a new record low. The domestic mainstream price of polysilicon dropped from RMB 21-23 million/ton at the beginning of the year to RMB 161 to RMB 170,000/ton (including tax). The drop reached 25%.
In the face of falling prices, major domestic companies have been facing an uptrend in production capacity, leading to an increase in the supply of polysilicon in China. According to statistics of the Silicon Industry Branch, the domestic polysilicon production reached 38,000 tons in the first half of the year. Affected by this, the output of domestic crystalline silicon cells in the first half of the year reached 12GW, while the installed capacity was only 1.5GW.
The downward price has caused many polysilicon companies to end the first half of the year. Among the companies that reported semi-annual results or notices, the major companies such as TBEA, Chuantou Energy, and CSG A have all experienced a net decline of more than 50% in their net profits. Leshan Power even suffered a loss of nearly 300 million yuan.
The market is difficult to change throughout the year
Under the background of the unsatisfactory state of the photovoltaic market at home and abroad, the polysilicon sub-industry presents a series of features or delays its progress.
At present, foreign polysilicon is occupying the market share of domestic manufacturers at a low price advantage. The price of imported polysilicon quickly dropped from US$31.75/kg at the highest point of the year to US$22.96/kg, which is now approaching the price of similar domestic products. According to customs statistics, 40,946 tons were imported from January to June in 2012, a year-on-year increase of 34.7%, a record high.
Due to the dual impact of the expansion of production by major companies and low price dumping of foreign polysilicon, the supply of polysilicon in China will continue to increase. Coupled with the short-term rebound in demand is difficult, domestic polysilicon manufacturers will not be able to escape the inventory phase in the short term. According to the Silicon Industry Association’s forecast, the global production of crystalline silicon cells will reach 38 GW this year, and the corresponding polysilicon production will be 240,000 tons. However, the installed capacity of global crystalline silicon cells will reach 35 GW throughout the year, so there will be at least 3 GW of inventory.
GF Securities analysts analysis, with the further increase in polysilicon inventory, manufacturers will use dumping to sell polysilicon, it is expected that product prices will continue to fall, it is expected that the whole industry can hardly see signs of recovery.
The fall in prices also led to a decline in the performance of related companies. As of August 2, nearly 10 companies in the A-share solar polysilicon segment have issued 2010 interim results reports or forecasts. The data show that their performance has generally continued to decline since last year, and their net profits have fallen by more than 50%. Some companies have incurred losses.
Analysts pointed out that last year's decline in polysilicon prices has led to the current domestic 80% of polysilicon SMEs into production, but the trend of the major companies to expand production led to overcapacity in the context of low market price competition is difficult to change, coupled with the impact of rising imports of polysilicon In the second half of the year, the domestic polysilicon market is still hard to change.
It is difficult to keep prices down
After the rapid decline in the price of polysilicon photovoltaics last year, the current domestic polysilicon photovoltaic has fallen into a situation of large-scale production suspension. According to statistics of the Silicon Industry Association, from the perspective of the country, 43 polysilicon enterprises have already been put into operation, and only 7 enterprises are still under construction. The rest of the companies have closed the production line, that is, 80% of the enterprises have stopped production.
This situation did not bring about a reduction in market competition pressure, domestic polysilicon prices continued to decline in the first half. According to the statistics of the Silicon Industry Branch, in the first half of this year, the domestic polysilicon price once again fell rapidly and set a new record low. The domestic mainstream price of polysilicon dropped from RMB 21-23 million/ton at the beginning of the year to RMB 161 to RMB 170,000/ton (including tax). The drop reached 25%.
In the face of falling prices, major domestic companies have been facing an uptrend in production capacity, leading to an increase in the supply of polysilicon in China. According to statistics of the Silicon Industry Branch, the domestic polysilicon production reached 38,000 tons in the first half of the year. Affected by this, the output of domestic crystalline silicon cells in the first half of the year reached 12GW, while the installed capacity was only 1.5GW.
The downward price has caused many polysilicon companies to end the first half of the year. Among the companies that reported semi-annual results or notices, the major companies such as TBEA, Chuantou Energy, and CSG A have all experienced a net decline of more than 50% in their net profits. Leshan Power even suffered a loss of nearly 300 million yuan.
The market is difficult to change throughout the year
Under the background of the unsatisfactory state of the photovoltaic market at home and abroad, the polysilicon sub-industry presents a series of features or delays its progress.
At present, foreign polysilicon is occupying the market share of domestic manufacturers at a low price advantage. The price of imported polysilicon quickly dropped from US$31.75/kg at the highest point of the year to US$22.96/kg, which is now approaching the price of similar domestic products. According to customs statistics, 40,946 tons were imported from January to June in 2012, a year-on-year increase of 34.7%, a record high.
Due to the dual impact of the expansion of production by major companies and low price dumping of foreign polysilicon, the supply of polysilicon in China will continue to increase. Coupled with the short-term rebound in demand is difficult, domestic polysilicon manufacturers will not be able to escape the inventory phase in the short term. According to the Silicon Industry Association’s forecast, the global production of crystalline silicon cells will reach 38 GW this year, and the corresponding polysilicon production will be 240,000 tons. However, the installed capacity of global crystalline silicon cells will reach 35 GW throughout the year, so there will be at least 3 GW of inventory.
GF Securities analysts analysis, with the further increase in polysilicon inventory, manufacturers will use dumping to sell polysilicon, it is expected that product prices will continue to fall, it is expected that the whole industry can hardly see signs of recovery.
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