Norwegian silicon producer REC Silicon ASA published its annual report and confirmed the revenue of $272.4 million during 2017 (2016: $271.2 million) as announced in February. EBIT for 2017 was a loss of $127.5 million, an improvement compared to the EBIT loss of $216 million for 2016. The loss from total operations was $367 million in 2017 compared to a loss of $147.4 million in 2016.

Polysilicon sales volumes increased by 3.3 percent to 13,503 MT compared to 2016. According to the company, REC Silicon’s sales opportunities »continue to be limited by restricted access to the Chinese markets because of the solar trade war between China and the United States.« Accordingly, the FBR production facility in Moses Lake continues to operate at approximately 50 percent capacity.

REC Silicon’s average annual sales prices for prime granular solar grade polysilicon increased by 8.2 percent from 2016 to 2017. Silicon gas sales volumes were 3,501 MT, a 28.1 percent increase from 2,734 MT in 2016. Average annual prices for silane gas decreased by 19 percent. FBR cash cost for 2017 was $10.6/kg, compared with $15.3/kg for 2016. Production of granular solar grade polysilicon increased to 9,379 MT or a 19.3 percent increase compared to 7,863 MT for 2016. Total polysilicon production increased by 8.4 percent in 2017 to 11,636 MT.

Polysilicon production targets for 2018 are estimated at approximately 11,330 MT and continue to reflect the operation of the FBR facility in Moses Lake at approximately fifty percent capacity utilization throughout 2018. Silicon gas sales volumes are targeted at 3,700 MT for 2018.