FRANKFURT (dpa-AFX Broker) – The hope of the Wacker Chemie shareholders for even better business with the solar industry has driven the MDax Group’s papers vigorously on Tuesday. They rose in the morning by 3.5 percent to 130.05 euros. According to the Washington newspaper “Politico”, which is well-connected in Washington, the US government is considering a ban on the import of polysilicon, the basic material for solar systems, from the Chinese region of Xinjiang, the area of the oppressed Uighurs. There is growing political pressure on President Joe Biden’s administration to take action on China’s human rights violations.
Wacker Chemie would probably benefit from such a step, as there would then be less competition in the USA, at least temporarily. At the same time, the US is increasingly relying on solar power in the fight against climate change, which is driving demand. Wacker Chemie produces high-purity polysilicon in Burghausen and Nünchritz, but also at the US site in Charleston.
Just a few days ago, the Bavarians had raised their annual forecasts due to good chemical business, but also the strong demand from the solar industry. Analyst Markus Mayer from Baader Bank had emphasized that there could be even more room for improvement if the positive price environment for polysilicon persists until the end of the year.
