Daqo New Energy up on 5-year China polysilicon supply contract

Daqo New Energy

03/11/2022 13:16

** Shares of Polysilicon manufacturer Daqo New Energy Corp
 DQ.N  up ~1% premarket at $45
    ** DQ's subsidiaries Xinjiang Daqo and Inner Mongolia Daqo
sign a five-year polysilicon supply agreement with a leading
solar manufacturing company in China  urn:newsml:reuters.com:*:nPn5R56mFa
    ** DQ will provide 57,600 metric tons of high-purity
mono-grade polysilicon from October 2022 to December 2027
    ** Co says actual prices will be negotiated by both parties
monthly according to market conditions
    ** Previously on Oct. 25, DQ announced its subsidiaries will
provide 432,000 metric tons of polysilicon from 2023 to 2028 to
a solar manufacturing company in China
    ** Polysilicon, a high-purity form of silicon, is a crucial
raw material in the solar photovoltaic supply chain
    ** Up to Wednesday's close, stock up 10.6% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))