Daqo New Energy rises on higher 2024 polysilicon production forecast

Daqo New Energy

28/02/2024 12:45

** Polysilicon manufacturer Daqo New Energy's  DQ.N  shares
up 4.2% at $20.30 premarket
    ** Company forecasts polysilicon production for full year
2024 between 280,000 metric tons (MT) and 300,000 MT, about
40%-50% higher than in 2023
    ** Daqo expects to produce 60,000 MT to 62,000 MT of
polysilicon during Q1 vs Q4 production of 61,014 MT
    ** Company expects polysilicon prices to rebound slightly in
Q1, seasonally affected by Chinese New Year, and then stabilize
in Q2
    ** Daqo shares fell ~31% in 2023

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))