China’s Tongwei Solar increases cell prices 11%

Bloomberg

Tongwei Solar, a unit of Tongwei Co, raised multicrystalline solar cell prices by 11% to 0.6 yuan per watt, according to a notice on its website.
The company, the world’s leading cell producer, also increased prices for three types of monocrystalline cells by 0.08 yuan per watt each, about a 9% increase.
The hike is the second in less than three weeks after it increased prices on July 24.
Manufacturers all along the solar supply
chain have boosted prices in the past month after a July 19 explosion forced the shutdown
of a major polysilicon factory in Xinjiang,
China.
Other manufacturers in the process are required to take safety measures that could reduce utilisation, according to Dennis Ip, an analyst with Daiwa Capital Securities.