Shares in Chinese manufacturers rocket


As markets opened for the day across The Pond, there was little doubt over whom U.S. traders think are the biggest winners from the EU-China solar panel agreement.

In early trading there were significant rises for Trina Solar (up 3.75 per cent on the previous day’s closing price), LDK Solar (4.14 per cent), JA Solar (4.95 per cent),

Yingli Green Energy (5.24 per cent), Hanwha SolarOne (5.78 per cent) and Renesola (5.81 per cent) with embattled manufacturer Suntech Power topping the pile of risers among Chinese manufacturers as its shares soared 6.38 per cent, albeit up to only US$1.5 per share after this year’s much-publicized travails.

With Brussels negotiators having reportedly settled for a minimum Chinese panel price of €0.56/W (US$0.74/W) and an annual volume cap of around 7 GW – although neither detail has been confirmed – U.S. traders clearly believe the final settlement is nearer to the demands of the big Chinese manufacturers than those of the European Commission’s team.