US, Europe trade actions against China hurt PV demand – DuPont

23 October 2012 17:33  [Source: ICIS news]

HOUSTON (ICIS)--US and EU trade actions against imports from China are hurting demand in the photovoltaic (PV) sector, DuPont executives said on Tuesday.

CEO Ellen Kullman and investor relations vice president Karen Fletcher said that uncertainties from US anti-dumping tariffs and similar measures under consideration by the EU are contributing to a decline in demand in DuPont’s PV sales.

Trade actions in the US and trade investigations in the EU add to market uncertainties and are negatively impacting demand,” Kullman told analysts during the company’s third-quarter results conference call.

Also driving the decline were overcapacities in the global PV sector, she said.

DuPont’s third-quarter sales in its electronics and communications business, which include the company's PV operations, were down 28% year on year to $607m, with volumes down 20% and prices down 8%.

Sequentially, DuPont’s third-quarter PV sales fell because of inventory destocking throughout the PV value chain, Karen Fletcher added.

“Trade actions in the US and the investigations in Europe are creating downward pressure on end-use demand,” Fletcher said.

DuPont expects 2012 global PV installations to be “flat to low-single digit, depending on the fourth-quarter installation rate”, she said.

For the fourth quarter, DuPont expects its electronics and communications sales to remain flat because of ongoing weakness in PV markets and the concerns about the US and European trade actions, Fletcher said.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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