Market Chatter: GCL Co-CEO See Little Chance of Silicon Prices Rebound in 2024

MT Newswires Live06-21

Silicon prices in China are unlikely to rise again in 2024 because of the continued oversupply flooding the market, Yicai reported Thursday, citing the co-chief executive officer of Chinese photovoltaic materials giant GCL Technologies (HKG:3800).

The price of silicon plunged 75% in a year to 60,000 yuan per ton, and it is unclear when the price will bottom out, said Lan Tianshi. He believes the prices will remain the same unless new entrants leave the market.

The industry leaders may reach breakeven during the second half with smaller players taking a loss, the publication noted.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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