China’s troubled solar sector may be nearing a turning point

Quick Summary:

Goldman Sachs sees imminent factory closures rebalancing the market, while Morgan Stanley reckons equipment prices have bottomed out.

TCL Zhonghuan Renewable Energy Technology also said it will increase prices of three types of wafers, according to a report in Chinese media.“I don’t know if prices can fall beyond this point, it’s just too much for even the biggest players,” said Cosimo Ries, an analyst at Trivium China in Shanghai.“It’s still going to be a pretty painful year, and maybe longer before that capacity gets cleared.

The financial pain looks to be planting the seeds for a turnaround, although a meaningful rebound is unlikely until next year.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: Hong KongChina

Topics: Last Solar Longi Industry Energy Factory Technology Prices Been Year Capacity

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-02 @ 16:22:25 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 237 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 34 words per sentence (average)

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Copyright Owner: © SCMP

News ID: 22329436

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