Solar Panel Manufacturers Score on Trade Ruling – First Solar, Inc.(NASDAQ:FSLR), CSIQ, TSL, LDK, STP

It is a good time for solar panel manufacturers at least for now because right after the Obama administration upheld tariffs on Chinese solar panels, the shares of these companies shot up. Chinese solar firms as well as manufacturers from the US gained in afternoon trading.

China’s rise was due to the tariffs being below preliminary tariffs imposed in May. According to the USgovernment, the country is brimming with subsidies of China-based companies offering low-cost panels. US firms announced tariffs in the range of 18% to nearly 250%.

First Solar, Inc.(NASDAQ:FSLR), based in US moved up 3.23% or 68 cents to $21.72, whereas Canadian Solar Inc.(NASDAQ:CSIQ) having dual operations in US and China went up 9 cents or 3.42%to $2.72 Canadian Solar is not too happy with final verdict of the Commerce Department, but they will continue to meet the demands of the US solar energy market and come up with innovative solar energy solutions that are reasonably priced.

Trina Solar Limited (ADR)(NYSE:TSL), moved up 5 cents or 1.20% to $4.20. The company had stated that components of solar panels could be imported from other countries in case they are deeply affected due to the imposed duties. US depository shares of China-based LDK Solar Co., Ltd (ADR)(NYSE:LDK) and Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP) went down to $1.01 and 0.84 cents respectively with a decline rate of 2.88%. and 5.62% respectively

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Solar Panel Makers Reacting Positively On Trade Ruling – FSLR, CSIQ, LDK, STP, JKS, TSL, YGE

Shares of solar panel makers have reacted on Thursday after Obama administration endorsed tariffs on Chinese solar panels.

The US government stated that China has subsidized firms that are flooding with the US with low-cost panels. In reply to the tariffs imposed by the US government ranges from 18% to about 250%.

Both China and the US based solar companies have gained in the afternoon trading. US firms have applauded the upheld tariffs. Some Chinese firms have made profits as the tariffs are lower than opening tariffs forced in May.

First Solar, Inc.(NASDAQ:FSLR) shares, based in the US, rose 71 cents to $21.74. Another big gainer is Canadian Solar Inc.(NASDAQ:CSIQ) that has its operations in both China and the US. Its stocks have increased 9 cents to $2.72.

Canadian Solar has issued a statement mentioning that it was disappointed with the final determination of the Commerce Department. It stated that it will stay committed to the US solar energy market, influencing its international supply chain to provide fairly priced solar energy solutions.

American depositary shares of Trina Solar based in China increased 9 cents to $4.24. The firm had initially stated that solar cells or other parts affected by the responsibilities could be replaced with parts from other nations.

American depository stocks of LDK Solar Co., Ltd (ADR)(NYSE:LDK) Ltd. based in China dropped 3 cents to $1.01. Shares of Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP), another company based in China, fell 4.16 cents to 853 cents.

The Chinese government had no prompt response on Thursday to the Commerce Department’s action. The Chinese state-run news agency, Xinhua has released an analysis contending that the US was putting itself into predicament by refusing solar panel buyers the amenities of huge economies of scale of China.

To the disappointment and anger of Chinese regulators, a number of solar panel makers in China have followed the general pattern of using prolific loans from state-owned banks to purchase and install foreign factory equipment.

Other notable gainers, Yingli Green Energy Hold. Co. Ltd. (ADR)(NYSE:YGE) soared 5%, JinkoSolar Holding Co., Ltd.(NYSE:JKS) added 12% and Trina Solar Limited (ADR)(NYSE:TSL) climbed 1.20%.

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