U.S. Introduces Anti-Dumping Tariffs -- LDK Solar and Suntech Power Shares Dip
The Paragon Report Provides Stock Research on LDK Solar and Suntech Power
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 05/29/12 -- Chinese solar stocks have slumped recently as the U.S. has announced anti-dumping tariffs of more than 31 percent on solar panels from China. The Commerce Department stated that last year the U.S. purchased $3.1 billion of Chinese solar cells. The total represents more than half of the American market. The Paragon Report examines investing opportunities in the Solar Industry and provides equity research on LDK Solar Co., Ltd. (NYSE: LDK) and Suntech Power Holdings Co., Ltd. (NYSE: STP).
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The tariffs, which are retroactive 90 days, are on top of anti-subsidy tariffs of 2.9 to 4.73 percent imposed in March. According to research by Paula Mints, analyst at Navigant Consulting, last year Chinese manufacturers shipped roughly 50 percent of the world's solar panels, whereas U.S. manufacturers shipped only 3 percent. The 31 percent tariff was calculated by the Commerce Department by estimating the cost for Chinese manufacturers, and then calculating how far below cost were manufacturers selling the solar panels for in the U.S.
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LDK recently commented on the new anti-dumping tariffs. "LDK Solar has been a leader in the highly-competitive global solar industry since the company's founding in 2005, and this decision will not change our strategy in developing markets worldwide. LDK Solar reaffirms its commitment to be one of the industry's top tier companies in the US and global markets now and in the future by creating consistent value for our customers," stated Xiaofeng Peng, Chairman and CEO of LDK Solar.
Suntech Power Holdings produces industry-leading solar products for residential, commercial, industrial, and utility applications. The company recently reported total net revenues for the first quarter of 2012 were $409.5 million, a decrease of 34.9% from $629.0 million in the fourth quarter of 2011 and a decrease of 53.3% from $877.0 million in the first quarter of 2011.
Paragon Report provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Paragon Report has not been compensated by any of the above-mentioned companies. We act as independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 29.05.2012 - 12:20 Uhr
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