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Suntech Cancel $1.3 Billion Contract for Polysilicon

This doesn’t look good. Suntech, the embattled Chinese solar panel maker, has canceled $1.3 billion in polysilicon orders with South Korea chemical giant OCI. Polysilicon is the key raw ingredient in photovoltaic panels and Reuters reports that the disclosure by OCI in a regulatory filing sent OCI’s shares tumbling 9.5% to a six-year low on South Korea’s stock exchange. But don’t expect Suntech’s assembly l ...

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