WROs Remain Top Concern for US Solar Companies Despite Potential for New AD/CVD, Report Says
A withhold release order on Chinese polysilicon remains the major concern for the U.S. solar industry, despite recently opened anti-circumvention inquiries that could result in the imposition of antidumping and countervailing duties on solar modules from Cambodia, Malaysia, Thailand and Vietnam and CBP’s implementation of the Uyghur Forced Labor Prevention Act, according to a market research report released by BofA Securities March 29.
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“Existing headwinds” from the WRO on silicon from Hoshine remain “the pressing concern given inventory in country,” BofA said (see 2106240062). “While headlines suggest some Trina and Longi volumes have been released, and with Jinko suggesting during the recent earnings release that 'small' volumes were released, our discussions reiterate that there remains no clear precedent for what will satisfy CBP ... going forward,” it said. CBP released an updated guidance document on the WRO in early March (see 2203110053).
“Critically, our understanding is that lack of communication between US port officials and various appeals processes means that each detainment effectively requires its own end-to-end process -- or put more simply, there's no sign of any categorical exemptions as of yet,” the report said. “By consequence, while tail risks from” the Uyghur Forced Labor Prevention Act and the anti-circumvention inquiries “present a risk that may yet augment the duration of headwinds,” the Hoshine WRO “remains the focal point for now,” it said.