The confusion of the polysilicon giant

[Source: "New Industry" July issue / Yang Yi]

Polycrystalline silicon giant GCL-Poly (03800.HK) has taken the lead in mastering technology and rapidly expanding its production capacity. When the market is good, it has earned high profits and secured its leading position in the polysilicon industry. But the days of this boss, the recent days are not very good.

At present, many foreign polysilicon enterprises are selling at a large price, which makes it impossible for GCL-Poly to raise prices. Its profit this year will be greatly reduced.

Although PV shipments have been rising in the first and second quarters of this year, polysilicon prices are still showing a downward trend.

GCL-Poly's average selling price of polysilicon in the first quarter of this year was US$26/kg, down about 58% year-on-year. According to customs data, the price of polysilicon in overseas markets in the first quarter of this year was US$28.5/kg, higher than the shipment price of GCL-Poly. According to Pvinsights' data, although the price of polysilicon in GCL-Poly is lower than that in the first quarter, it is still higher than the price of imported polysilicon. As of June 22, the average price of imported polysilicon was 144.9 yuan / kg (about 22.8 US dollars / kg), while domestic polysilicon was 160 yuan / kg (about 25.184 US dollars / kg).

According to a person familiar with the matter, the current polysilicon price of GCL-Poly is indeed higher than the price of overseas companies. This situation has lasted for about one month.

It is understood that the monthly output of domestic polysilicon is about 6,000 tons, of which GCL-Poly is about 4,000 tons, and the rest is from OCI, Germany Wacker and REC, Hemlock, MEMC and other overseas large companies, as well as several small and medium-sized polysilicon enterprises in China. Provided together.

According to informed sources, although GCL-Poly has the idea of ​​raising prices, it has not received the response of other overseas counterparts, and can only watch the price continue to fall.

Industry analysts also believe that the price of polysilicon is not going up, the root cause is that global production capacity has greatly exceeded demand.

According to data provided by Lu Wei, director of the Department of Technology and Technology of the China Electronic Materials Industry Association and secretary general of the Polysilicon Industry Technology Innovation Alliance, the global production of polysilicon in 2011 reached 240,000 tons, an increase of 30% compared with 2010. It is expected that there will still be 30% in 2012. The growth around is more than 300,000 tons.

(unfinished)

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