03 April 2013 10:32 [Source: ICIS news]
By Felicia Loo
SINGAPORE (ICIS)--China is seen pushing back once again its decision to impose a penalty tariff of around 30% on imported polysilicon from the US and South Korea, market participants said on Wednesday.
The repeated delays by the Chinese government in reaching a decision on the issue have been slowing down spot trades for the product that is the raw material for making solar wafers, cells and modules, they said.
“It is a political decision – a major one. China, in general, wants to see what the EU would do,” said a Shanghai-based market player, referring to the European trade bloc’s dumping investigation against Chinese exports of solar products.
It was widely expected of China to firm up the antidumping duties (ADDs) before April 10, but a number of market participants said this would be delayed to late April or early May. Other market players said the decision might even materialise only before 5 June.
The market saw a rush in buying of polysilicon earlier this year as the market was expecting China to push ahead with the penalty tariff of 30% on polysilicon imports from the US and South Korea. But the first quarter is over and still no final decision from China.
For now, the market players are adopting a wait-and-see attitude and are generally buying the product only when required.
The spot trades of Chinese polysilicon softened in the week, with deals heard done below yuan (CNY) 130,000/tonne ($2,098/tonne) DEL (delivered) China, market players said.
“There are spot transactions being done lower at CNY125,000-128,000/tonne,” said a market player, who declined to be identified.
However, the bulk of the spot deals remained in the range of CNY130,000-140,000/tonne DEL China, market players said.
The EU is tightening the monitoring of solar products being exported from China to help its own dumping investigation. The EU started registering some solar products coming from China from 6 March to see if such products are hurting solar companies in the EU.
The registration process was started exactly six months after the EU launched an anti-dumping probe on 6 September 2012. The EU will announce the preliminary determination of the anti-dumping and countervailing probe of solar products originating in China on 5 June and 7 August 2013, respectively.
China imported 7,991 tonnes of polysilicon in February, up 5% year-on-year and 18% higher from January, official data showed.
The country remains a net importer of the product, with exports in February totalling 376 tonnes.
($1 = CNY6.20)
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