Polysilicon prices to rebound with Chinese import duties

The price of polysilicon is expected to rebound from a 12-year low as China implements the country’s first import tax on the material used in solar panels, Bloomberg reported. China plans to issue a draft ruling on dumping and unfair subsidy allegations against foreign polysilicon suppliers such as South Korea’s OCI (010060.KRX) and Germany’s Wacker Chemie (WCH.FRA). Analysts surveyed by Bloomberg gave a median estimate for prices to increase 39% this year to US$22 per kilogram. The commodity fell to its lowest price in December since at least 2000, dropping to US$15.83. China is the biggest buyer in the US$5.5 billion polysilicon market.