China Solar Silicon Falls to Lowest Since 2020 Amid Overcapacity
(Bloomberg) -- Solar silicon prices in China plunged to a three-year low as overcapacity and fierce competition slash profits across the industry.
Average prices of polysilicon dropped as much as 20% in the past week, according to a statement by the China Silicon Industry Association. Prices are at the lowest level since July 2020, according to data compiled by BloombergNEF.
![](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iC32Xi424NJ4/v0/-1x-1.png)
Polysilicon is an ultra-refined form of silicon and the key material in solar panels. Prices soared in 2021 as a surge in demand led to shortages, and producers responded with several new factories that have come online in the past year, flooding the market with cheap new supply.
Now producers are seeing losses across the board, and some companies are unwilling to sell as buyers request extremely low prices, the silicon association said.
China’s solar manufacturers are suspending production, cutting jobs and shelving investment plans to survive the price war, with polysilicon and wafer producers among the worst hit.
©2024 Bloomberg L.P.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More renewables news
![BloomburgMedia_SH40SLT0G1KW00_25-07-2024_09-26-50_638574624000000000.jpg](/media/orol425i/bloomburgmedia_sh40slt0g1kw00_25-07-2024_09-26-50_638574624000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133663732110870000&format=webp)
Vessel Firm’s $700 Million Takeover Targets Wind’s Ship Shortage
![Nordex](/media/d0gf3pte/nordex.jpg?anchor=center&mode=crop&width=240&height=135&rnd=132749588018400000&format=webp)
Nordex Group upgrades guidance after strong H1 2024 performance with 25% sales increase
![Totalenergies (5)](/media/2jrkcvan/totalenergies.jpg?anchor=center&mode=crop&width=240&height=135&rnd=132942325437870000&format=webp)
TotalEnergies launches new 100 MW/200 MWh battery storage development in Germany
![Totalenergies](/media/41ojyade/totalenergies.jpg?anchor=center&mode=crop&width=240&height=135&rnd=132881916816700000&format=webp)
TotalEnergies acquires a stake in the OranjeWind offshore wind farm in the Netherlands
![Battery Storage (1)](/media/bedjsnil/battery-storage.jpg?anchor=center&mode=crop&width=240&height=135&rnd=132953656215970000&format=webp)
EWEC issues request for proposals for the development of 400MW battery energy storage system
![BloomburgMedia_SGH4U3T0AFB400_24-07-2024_20-00-09_638573760000000000.jpg](/media/4zujntna/bloomburgmedia_sgh4u3t0afb400_24-07-2024_20-00-09_638573760000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133663248098100000&format=webp)
Refining Woes Hit Big Oil as Pressure Rises on Investor Returns
![Hydrogen Image (1)](/media/ouhfwhgg/hydrogen-image-1.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133093644996330000&format=webp)
EnBW to invest €1 billion in national hydrogen core network in Germany
![BloomburgMedia_SH2XDFT0AFB400_24-07-2024_09-00-10_638573760000000000.jpg](/media/jmmhvoyf/bloomburgmedia_sh2xdft0afb400_24-07-2024_09-00-10_638573760000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133662852101070000&format=webp)
GE Vernova Now Must Explain Broken Wind Turbine to Investors
![BloomburgMedia_SGTQ8GDWX2PS00_23-07-2024_20-00-09_638572896000000000.jpg](/media/obyb3qfl/bloomburgmedia_sgtq8gdwx2ps00_23-07-2024_20-00-09_638572896000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133662384097370000&format=webp)
SunPower Plunges After Halting Installs and Shipments
![BloomburgMedia_SH0RSNDWRGG000_22-07-2024_16-00-09_638572032000000000.jpg](/media/wyjmxear/bloomburgmedia_sh0rsndwrgg000_22-07-2024_16-00-09_638572032000000000.jpg?anchor=center&mode=crop&width=240&height=135&rnd=133661376098470000&format=webp)
American Farmers’ Next Hot Commodity Is Canola for Biofuels
![CSIS Thumbnail](/media/o0acqjyg/csis_thumbnail.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133566075809700000&format=webp)
CSIS: long-term LNG demand to reshape global export capacity growth
![Dr Carole Nakhle Thumbnail](/media/gqrpjths/dr-carole-nakhle_thumbnail.png?anchor=center&mode=crop&width=540&height=300&rnd=133542056370600000&format=webp)
More women in energy vital to the industry’s success
![Vandana Hari Thumbnail](/media/gz3dyktl/vandana-hari-thumbnail.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133511540022930000&format=webp)
India’s energy sector presents lucrative opportunities for global companies
![OIL INDIA Thumbnail (1)](/media/oddlww2x/oil-india-thumbnail-1.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133506537128730000&format=webp)
Oil India charts the course to ambitious energy growth
![DNV Thumbnail](/media/chkphnjn/dnv-thumbnail.png?anchor=center&mode=crop&width=540&height=300&rnd=133491856590700000&format=webp)
Maritime sector is stepping up to the challenges of decarbonisation
Partner content
![Navigating the trading seas: exploring the significance of benchmarks-1859882229](/media/qlacaiww/navigating-the-trading-seas-exploring-the-significance-of-benchmarks-1859882229.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133613577584600000&format=webp)
Navigating the trading seas: exploring the significance of benchmarks
![New Lng Ship Web 17829](/media/vjrjyypa/new-lng-ship-web-17829.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133179936218300000&format=webp)
Back to the Future(s): the best commodities benchmarks are still physically settled
![Dr Klaus](/media/4eyh2dr0/dr-klaus.jpg?center=0.3953747239980292,0.50683017007953435&mode=crop&width=540&height=300&rnd=133517897092430000&format=webp)
Ebara Elliott Energy offers a range of products for a sustainable energy economy
![ESSAR](/media/5uafghtj/essar.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133524466961070000&format=webp)
Essar outlines how its CBM contribution is bolstering for India’s energy landscape
![HNC 7611 V2](/media/0dqbya15/hnc_7611_v2.jpg?anchor=center&mode=crop&width=540&height=300&rnd=133517899616530000&format=webp)