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<Research>Citi: Sustainability of Solar Stock Rally Hinges on Effective Policy Release
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Yesterday (2nd), the stock prices of Chinese solar-related manufacturers rebounded by up to 11% on the statement made by Chinese President Xi Jinping during the sixth meeting of the Central Financial and Economic Affairs Commission on July 1, according to Citi's research report. Xi advocated for the regulation of disorderly price competition and promoting the orderly exit of outdated production capacity, which marked the third time in the past 12 months that China has called for the elimination of excessive competition. Whether the current rally in solar stocks can be sustained will depend on the release of effective policies, said Citi. Polysilicon prices increased by 6-8% WoW this week, while downstream solar product prices fell by up to 3%. AAStocks Financial News |
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