Changes in Hong Kong stocks | GCL Technology (03800) rose more than 4%, institutions say polysilicon manufacturers are firm in raising prices in the short term

The Zhitong Finance App learned that GCL Technology (03800) rose by more than 4%. As of press release, it had risen 3.47% to HK$0.745, with a turnover of HK$124 million.

According to the news, Surge News learned from the industry that the eight major crystalline silicon leaders gathered in Shanghai on the evening of August 6 to sign the “Anti-Internal Volume Proposal” and jointly promised that the price of all products must not be lower than the full cost, and that companies will monitor and report each other; at the same time, they will strictly implement new energy consumption standards and take the initiative to clean up poor production capacity with high energy consumption. According to calculations by Pengpai News, the total production capacity of the above companies is about 2.85 million tons, accounting for more than 80% of the industry.

Galaxy Futures released a research report saying that after the price of polysilicon futures rises to the manufacturer's full cost line, the enthusiasm of polysilicon companies to hedge will increase significantly, so the pressure for 12-contract hedging will be even greater. The bottom of the recent monthly contract was basically determined. Under the framework of manufacturer sales not lower than cost, midstream inventory may be gradually cleared when the futures price of recent months is less than 37,000 yuan/ton. In the short term, polysilicon manufacturers are determined to raise prices.