News on Daqo

News on suppliers, market trends and technology innovations in polysilicon and wafer production is selected, assessed and written for you by Bernreuter Research.

Polysilicon EBITDA margins of Daqo, Wacker, OCI and REC Silicon from Q4 2020 through Q4 2021

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While polysilicon manufacturers Wacker and OCI successfully defied the spike of the silicon metal price in the fourth quarter, their Chinese competitor Daqo New Energy felt the impact in its earnings.

Curve of the polysilicon spot price in 2021

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After a massive price surge during 2021, signs are piling up that the polysilicon price is about to come down from its high level of US$36/kg. But a new price increase could follow in 2022.

Xinte Energy’s polysilicon plant in Urumqi, Xinjiang region, China

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Chinese transformer maker TBEA will build a 200,000-ton silicon metal factory in Inner Mongolia by the end of 2022 in order to secure the feedstock for its polysilicon subsidiary Xinte Energy.

Polysilicon EBITDA margins of Daqo, Wacker, OCI and REC Silicon from Q3 2020 through Q3 2021

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Polysilicon manufacturers Daqo, Wacker and OCI compensate the price spike of silicon metal feedstock and still increase their high margins, driven by strong demand in the third quarter.

Polysilicon EBITDA margins of Daqo, OCI, Wacker and REC Silicon from Q2 2020 through Q2 2021

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While non-Chinese polysilicon manufacturers OCI and Wacker enjoy high margins, Xinjiang-based Daqo New Energy has already announced the next major expansion to 270,000 tons in China by the end of 2024.

New polysilicon production capacities (in metric tons) in 2022

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The current polysilicon shortage has triggered so many new Chinese projects with a total capacity of more than one million tons that the industry will again face oversupply in the coming years.

A couple recruited through a labor transfer program is sitting in a bunk room at a facility of Hoshine Silicon Industry Co., Ltd.

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The Withhold Release Order of the U.S. customs against Xinjiang-based silicon metal producer Hoshine puts pressure on polysilicon manufacturers as most of them are sourcing from Hoshine.

Workers manually crush silicon metal in the Jingang Circular Economy Industrial Park in Yili (also known as Ili) prefecture, Xinjiang, China

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A new research report from the Sheffield Hallam University in England uncovers so far unknown details about silicon metal, polysilicon and wafer manufacturers using forced labor in Xinjiang.

Polysilicon EBITDA margins of Daqo, OCI, Wacker and REC Silicon from Q4 2019 through Q4 2020

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The strong rise of polysilicon prices since mid-2020 has led the results of non-Chinese manufacturers Wacker and OCI back into positive territory. EBITDA in the second half improved significantly.

Daqo New Energy’s polysilicon plant in Shihezi, Xinjiang, with electricity grid operated by the Xinjiang Production and Construction Corps (XPCC), a promoter of forced labor

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The western solar industry will likely be able to cut its ties to forced labor at polysilicon and wafer producers in Xinjiang. But establishing an alternative, complete supply chain is a monumental task.

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