According to data released by Bloomberg New Energy Finance (BNEF), due to the plunge in spot prices of raw materials for solar panels in June, the polysilicon market has also accelerated its decline in the past week.
According to a survey conducted by London-based BNEF from October 11 to 17, the average price of polysilicon fell by 6.1% to 41.13 US dollars/kg. At the same time, the BNEF polysilicon price index also fell by 5.8% last week.
Due to the reduced demand for solar panels in Germany and Italy, the spot prices of polysilicon makers Wacker Chemie AG and RECASA declined by 48%. Sean McLoughlin, an analyst at London HSBC Holdings Ltd. (HSBA), said that falling prices will force the largest polysilicon producers in the oversupply market to ensure that long-term cooperation with customers will have to further reduce product prices.
McLoughlin said in a telephone interview: "You don't want to see customers don't want to cooperate with the company because the contract price makes them feel that they are not competitive with other suppliers in the spot market."
Yesterday, Goldman Sachs lowered its REC stock rating from “neutral†to “sellâ€, and its stock price dropped 3.4% to 4.77 krona per share. Wacker Chemical's share price fell 1.9% in early trading in Frankfurt stock market. After rising 1.4% to 78.66 euros per share.
Companies that produce polysilicon to silicon wafers and then to solar panels compress raw material costs because they are trying to recoup profits from polysilicon manufacturers when excess supply has affected their own prices.
BNEF data showed that prices for 6-inch solar wafers and solar cells also declined slightly, as the price of silicon wafers fell by 1.7% to 1.71 dollars per unit, and photovoltaic cells decreased by 1.4% to 69 cents per watt.
So far this year, the share price of JA Solar Holdings, the largest solar cell manufacturer, has fallen by 76%. At 11:41 a.m. local time, the company's stock price fell 0.6% to 1.69 US dollars per share, while the largest solar panel maker Suntech Power (SuntechPower) shares fell 2.7% to 2.16 US dollars per share.
According to a survey conducted by London-based BNEF from October 11 to 17, the average price of polysilicon fell by 6.1% to 41.13 US dollars/kg. At the same time, the BNEF polysilicon price index also fell by 5.8% last week.
Due to the reduced demand for solar panels in Germany and Italy, the spot prices of polysilicon makers Wacker Chemie AG and RECASA declined by 48%. Sean McLoughlin, an analyst at London HSBC Holdings Ltd. (HSBA), said that falling prices will force the largest polysilicon producers in the oversupply market to ensure that long-term cooperation with customers will have to further reduce product prices.
McLoughlin said in a telephone interview: "You don't want to see customers don't want to cooperate with the company because the contract price makes them feel that they are not competitive with other suppliers in the spot market."
Yesterday, Goldman Sachs lowered its REC stock rating from “neutral†to “sellâ€, and its stock price dropped 3.4% to 4.77 krona per share. Wacker Chemical's share price fell 1.9% in early trading in Frankfurt stock market. After rising 1.4% to 78.66 euros per share.
Companies that produce polysilicon to silicon wafers and then to solar panels compress raw material costs because they are trying to recoup profits from polysilicon manufacturers when excess supply has affected their own prices.
BNEF data showed that prices for 6-inch solar wafers and solar cells also declined slightly, as the price of silicon wafers fell by 1.7% to 1.71 dollars per unit, and photovoltaic cells decreased by 1.4% to 69 cents per watt.
So far this year, the share price of JA Solar Holdings, the largest solar cell manufacturer, has fallen by 76%. At 11:41 a.m. local time, the company's stock price fell 0.6% to 1.69 US dollars per share, while the largest solar panel maker Suntech Power (SuntechPower) shares fell 2.7% to 2.16 US dollars per share.
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