After the “June rush” to complete solar projects in China – as well as the commissioning rush in Vietnam, which saw higher-than-expected demand of 4 GW in the first half – the growth of the regional solar market started to slow down in July and August, before anticipated Chinese demand picks up the slack again. With unexpectedly low demand in the third quarter, module manufacturers reacted first by marginally reducing utilization rates. Cell producers then cut production after cell prices collapsed.
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