China’s polysilicon price finally stabilised this week, according to the Silicon Industry Branch of the China Nonferrous Metals Industry Association, following several long-term contracts being signed, helping to reduce market volatility in the short-term.
Tongwei has announced that its subsidiaries have signed a RMB50.9 billion (US$7.58 billion) silicon material sales contract for 216,100 tons with Qinghai Gaojing Solar Energy Technology Co., Ltd.
Both GCL Technology and Daqo New Energy have leapfrogged Wacker Chemie in Bernreuter Research’s annual polysilicon top ten rankings, completing a China-based top three.
Solar polysilicon and cell manufacturer Tongwei has stated plans to significantly increase its manufacturing capacity over the next four years after confirming a six-fold increase in net profit in Q1 2022.
Major polysilicon and merchant cell producer Tongwei Group is to invest in an additional 32GW of solar cell capacity through a RMB12 billion (US$1.9 billion) investment in partnership with the government of Meishan City, in Sichuan Province, China.
Solar manufacturer Tongwei is forecasting for a six-fold increase in net profit for Q1 2022, highlighting the impact pricing spikes are having on upstream manufacturer fortunes.
