MAXN - Biden weighs ban on Chinese polysilicon over forced labor - Politico
JinkoSolar ([[JKS]] +3.6%) trims some of its strong early gains after Politico reports the Biden administration is considering banning imports of polysilicon from Xinjiang, China, which producers ~45% of the world's supply of solar-grade polysilicon.ETF: [[TAN]]Daqo New Energy ([[DQ]] -2.8%), another polysilicon maker with a factory in Xinjiang, fell as much as 7% before rebounding.Solar stocks trade mostly lower: [[RUN]] -4.7%, [[MAXN]] -3.6%, [[CSIQ]] -2%, [[ENPH]] -0.7%, [[FSLR]] +1.4%, [[SPWR]] +1.7%.The broader solar industry is coming off a record year of installations but the potential threat to supplies could hurt the supply chain that is already slowing projects and raising costs.A ban also could undermine Biden's aggressive goal of placing the U.S. on a path to eliminate carbon dioxide emissions from the power grid by 2035.Sunrun surged last week to its highest in nearly two months after Morgan Stanley raised its price target to a Street-high $91.
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Biden weighs ban on Chinese polysilicon over forced labor - Politico