Price of polysilicon decreased this week both for p-type and n-type materials with the former dropping below the historic low of US$6.75/kg reached in June 2020.
Major Chinese polysilicon producer Daqo New Energy saw both production and sales of polysilicon increase by around 50% in 2023 compared with 2022, whilst the dramatic drop in polysilicon prices slashed revenues from US$4.6 billion to US$2.3 billion over the same period.
German chemical group Wacker Chemie has posted the financial results of 2023 with its polysilicon business falling by 61% due production-related reasons.
According to reports from Norwegian media outlets, the price of electricity in Norway, alongside worldwide overproduction of polysilicon, made REC’s operations untenable in comparison with its Chinese competitors.