June 30, 2026
Washington is drafting a ban on Chinese inverters. ENPH (+12%) and SEDG (+10%) are ripping in the pre-market. One problem: the ban targets the one part of the market these two barely touch (i.e., utility-scale)….
June 24, 2026
Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,485/ton = $5.15/kg) – down 0.1% w/w Note: Adjusted for CNY exchange rate and 13% VAT….
June 23, 2026
LME Metal Prices Mostly Higher vs. Previous Close: Yesterday, Copper -0.70% to $6.15/lb; aluminum +0.43% to $1.61/lb; nickel -2.05% to $8.98/lb; zinc -0.68% to $1.65/lb; lead -0.66% to $1.09/lb; gold +0.86% to $4,191/oz; silver +0.45%…
June 17, 2026
The Bernanke–Powell asset-price backstop is (seemingly) being dismantled in real time. The regime has changed — so the market may be forced to price the end of the put. Our Take WHAT HAPPENED: At his…
June 17, 2026
What Is the Channel Seeing Three Weeks Ahead of the July 4 Safe-Harbor Deadline? Below, we provide a Q&A we had today with Krannich — one of the largest global distributors of solar products, with…
June 17, 2026
Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,525/ton = $5.18/kg) – up 1.2% w/w Note: Adjusted for CNY exchange rate and 13% VAT….
June 11, 2026
The Thesis, in One Breath Wood Mackenzie and SEIA forecast U.S. residential solar installations fall -21% y/y in 2026 (link). Therefore, when incorporating the consensus forecast that installs rise +5% y/y in 2Q26 — demand…
June 10, 2026
Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,100/ton = $5.11/kg) – down 1.4% w/w Note: Adjusted for CNY exchange rate and 13% VAT.Source:…
June 3, 2026
Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,605/ton = $5.18/kg) – down 0.3% w/w Note: Adjusted for CNY exchange rate and 13% VAT….
June 2, 2026
Volumes rebounded to 208MW. Tesla’s storage share snapped back to 61%, fully retracing the February dip. And the inverter duopoly has split cleanly in two — Enphase owns what’s left of residential, SolarEdge survives only…
May 28, 2026
Bottom Line We have covered the solar complex across three full cycles — the 2011–2013 polysilicon bust, the 2018–2019 China “531” subsidy collapse, and the 2023–2024 distributor inventory disaster. The pattern is repeating. China telegraphs…
May 27, 2026
Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$36,730/ton = $5.19/kg) – down 0.9% w/w Note: Adjusted for CNY exchange rate and 13% VAT….
May 20, 2026
LME Metal Prices Mostly Higher vs. Previous Close: Today, Copper -1.09% to $6.07/lb; aluminum +0.30% to $1.63/lb; nickel +1.05% to $9.56/lb; zinc -0.19% to $1.63/lb; lead -0.01% to $1.10/lb; gold +1.39% to $4,545/oz; silver +3.47%…
May 20, 2026
Please see bottom of report for important disclosures Gordon L. Johnson/GLJ Research LLC ————————————————– Polysilicon Futures Spot Contract Price (CNY$37,055/ton = $5.22/kg) – down 0.4% w/w Note: Adjusted for CNY exchange rate and 13% VAT….
May 19, 2026
Investment Conclusion March 2026 CSI data does something the February dataset did not: it forces us to update our priors with intellectual honesty. The single most important data point we flagged in our April 2…