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Leading Firms Incl. GCL TECH Refute Rumors of Polysilicon Output Cuts to Prop up Prices
Recommend 30 Positive 61 Negative 16 |
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Chinese polysilicon futures proliferated yesterday afternoon (13th), with the most-traded contract surging to the daily limit and closing at RMB34,770 per tonne, up 9%. Photovoltaic-related stocks bounced back accordingly. Market rumors circulated that leading polysilicon producers including TONGWEI (600438.SH) and GCL TECH (03800.HK) had held a closed-door meeting in Chengdu earlier this month to discuss mandatory production cuts to prop up prices. GCL TECH and TCL Zhonghuan both responded that the news is false, China Securities Journal reported. LONGI GREEN ENERGY (601012.SH) said that, as a downstream player in the industry chain, it was unaware of any such meeting. Auto-translated by AI AASTOCKS Financial News |
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