China imposes duties on polysilicon from U.S., S. Korea

CHINA, the world’s biggest solar-module maker, plans to impose tariffs of as much as 57% on polysilicon shipped from the U.S. and South Korea, saying it wants to stop the product from being sold below cost.

The U.S. units of Renewable Energy Corp ASA (REC) are among companies to receive the highest rate of tariff and South Korea’s OCI Co. (010060) will have the lowest at 2.4%, according to a statement on the Chinese commerce ministry website yesterday. Importers of the raw material to make solar panels must pay the duties beginning July 24.

The decision marks the preliminary ruling of a probe opened last year. The investigation is a response to a U.S. decision in 2012 to impose tariffs of as much as 250% on Chinese solar panels after a plunge in prices led to the bankruptcy of manufacturers such as Solyndra LLC, which was based in Fremont, California.

The Chinese ruling is “positive” for domestic polysilicon manufacturers such as Firefly