China’s Solar Glass Makers Extend Gain on Reports of Output Cuts

China’s producers of glass used in solar panels rallied following reports that manufacturers are planning deeper output cuts this month due to weakening demand and a surplus of supply.

The scale of the cut is expected to be 30% of annual production, higher than a 10% cut previously considered, pricing agency Shanghai Metals Market reported this week, without saying where it got the information. Media outlet Cailian said curbs are likely to be at 15-20%, citing company executives it didn’t identify.