* Q-Cells to apply to draw on bank guarantee Nov. 2 or 3

* LDK not immediately available for comment

* Q-Cells shares down 3.6 pct, LDK down 7.4 pct pre-market (Adds more details, background)

By Christoph Steitz

FRANKFURT, Nov 2 (Reuters) - Q-Cells (QCEG.DE: Quote, Profile, Research) ended a wafer supply agreement with Chinese peer LDK (LDK.N: Quote, Profile, Research), in a sign that the industry is continuing to struggle with the oversupply of solar cells.

Q-Cells, one of the world's largest makers of solar cells, said on Monday that LDK did not fulfil "significant contractual obligations" with regard to the supply agreement concluded in 2007.

LDK was not immediately available to comment.

"The contractual parties have differing opinions concerning the validity of the termination of the agreement," Q-Cells said in a statement.

"Discussions between the two companies and a parallel arbitration process at the International Chamber of Commerce (ICC) in Paris have not resulted in an amicable settlement yet," the company added.