Solar Silicon to Bottom as China Halts Factory Expansion

Solar Silicon to Bottom as China Halts Factory Expansion | Renewable Energy News Article

renewableenergyworld.com 15 Oct '12, 3pm

Solar Silicon to Bottom as China Halts Factory Expansion

The spot price will fall 6 percent to about $18.20 a kilogram by mid-2013 and then is likely to stabilize, according to the median estimate of five analysts surveyed by Bloomberg. The commodity crashed from $475 in 2008 and is down 27 percent this year to $19.36 on Oct. 1, the lowest in at least a decade. Producers led by GCL-Poly Energy Holdings Ltd. in China and OCI Ltd. of South Korea have stopped expanding factories after doubling capacity between 2009 and 2011. While the resulting glut gutted margins as it depressed prices to near or below output costs, most producers will avoid shutting plants, Joe Osha, an analyst for Bank of America in San Francisco. “Instead, demand is going to grow, and eventually you are going to get to the point where supply and demand balance, probably in 2014 or 2015,” Osha said in an interview. “This is going to bottom the long, painful way....

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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RT @balqon: Solar Silicon to Bottom as China Halts Factory Expansion Polysilicon, the raw material used by the $38 billion a year [link]
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