Chinese PV rolled glass output in 10M/2022 improved 54.8% YoY, says MIIT; Daqo subsidiary signs long-term contract for 148,800 ton polysilicon supply; Flat Glass constructing fab for 1.5 million ton annual output.
MIIT update on Chinese solar industry: The Chinese Ministry of Industry and Information Technology (MIIT) says between 10M/2022, the new production capacity of PV rolled glass increased by 70.5% YoY. At the end of October 2022, 39 PV rolled glass companies had 120 kilns and 402 production lines, representing 76,000 tons per day production capacity, out of which operational capacity of 71,000 tons per day came from 103 kilns and 366 production lines. During 10M/2022, China produced 12.725 million tons, having increased 54.8% YoY. The industry's average inventory was about 14 days, down 7 days from the end of September, reflecting significant increase in demand and decrease in inventory.
Additionally, the ministry informed average price of 2mm and 3.2mm PV rolled glass was RMB 20.8 per sq. mtr. and RMB 26.9 per sq. mtr., down 14.0% and 7.7% respectively on annual basis.
Daqo's RMB 45 billion contract with unidentified client: Chinese polysilicon supplier Daqo New Energy has announced a contract with an unidentified customer to supply 148,800 ton of 1st grade polysilicon worth RMB 45.086 billion ($6.3 billion). Daqo's subsidiary Xinjiang Daqo will deliver this capacity between January 2023 to December 2027. Earlier this month, another Daqo subsidiary Inner Mongolia Daqo New Energy signed a 137,000 ton supply deal worth RMB 41.5 billion for another undisclosed customer to be delivered between November 2022 to December 2027 (see China PV News Snippets).
Flat Glass new project enters construction: Flat Glass has started construction of its ultra-thin and ultra-high transparent solar glass panel and backplane manufacturing project, in Nantong Tongzhou Bay Demonstration Zone. It targets to produce 1.5 million ton annually for an investment of RMB 3.88 billion ($0.54 billion). Local media reports stated that the company expects annual sales to reach about RMB 4.5 billion ($0.63 billion) on completion. In June 2022, the company said it plans to raise RMB 6.0 billion to fund its expansion efforts (see China PV News Snippets).
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