（李敏） 本周工业硅市场在供应增加的预期下，看空情绪进一步加重，同时需求不振和期货盘面不断创新 低，对现货价格压力较大，现货价格下跌。供应端，北方大厂继续复产，同时丰水期即将来临，虽南方 仅有小部分厂家筹备开炉，但整体产量仍将会有较为明显的增加。需求端，有机硅单体厂目前供应较为 稳定，但6月份检修计划较少，产量有增加预期，对工业硅需求增加；多晶硅近期各厂开工率各有增 减，整体变动不大；铝合金厂按需采购工业硅，工业硅三大下游总需求增加。价格方面，有机硅单体厂 以执行前期订单为主，市场活跃度较低，下游需求较为疲软，价格小幅下跌；多晶硅价格小幅下跌。 近期工业硅盘面价格接连下跌，今日收盘价跌至新低7340元/吨，对现货市场冲击较大，叠加目前 整体市场较为悲观，下游需求也难见增量，库存去化较为困难，价格难见上涨迹象。 本周工业硅现货价格小幅下跌。过去一周（2025年5月22日-28日），主力合约收盘价从7880元/吨 震荡波动至7340元/吨，跌幅为6.85%。全国综合价格为8961元/吨，下跌98元/吨，其中分牌号来看，553 为8652元/吨、441为9215元/吨、421为9617元/吨，分别下跌100元/吨、 ...

Core Viewpoint - The article discusses the development, production challenges, and applications of fused quartz, highlighting its growing importance in various high-tech industries and the need for improved production techniques to enhance quality and reduce costs [1][2][3]. Group 1: Classification of Fused Quartz - Fused quartz is classified into two main types: transparent quartz glass with SiO2 content greater than 99.95% and opaque quartz glass with SiO2 content greater than 99.80% [1]. - The industry has seen the development of new varieties, such as optical-grade fused quartz glass and high-purity fused quartz products, by companies like HERAEUS and GEQUARTZ [1]. Group 2: Production Status of Fused Quartz - Jiangsu Province's Donghai County is a key production base for high-purity quartz materials, with local companies using a production process that involves melting selected high-quality quartz raw materials [1]. - Major challenges in production include high melting temperatures, viscosity, and the need for high purity, with impurities needing to be less than 0.0001% [2]. - The current production methods often lead to high energy consumption, accounting for over 50% of production costs, which impacts profitability [2]. Group 3: Applications and Market Overview - Fused quartz is widely used in various fields, including electronics, military, aerospace, optical communications, and chemical engineering due to its excellent physical and chemical properties [3]. - In the electrical light source industry, fused quartz products are used in various lighting applications, including energy-saving lamps and sterilization lamps [4]. - The fiber optics industry relies heavily on high-purity fused quartz materials for the production of optical fibers, with strict requirements for size and purity [5]. - In aerospace, fused quartz is utilized for its low thermal expansion coefficient and excellent radiation resistance, making it suitable for applications in telescopes and spacecraft [5]. - The semiconductor industry has seen rapid growth in the use of fused quartz for various processes, including doping and diffusion of silicon wafers [5]. - Fused quartz is also essential in radar technology, chemical production, metallurgy, and precision instruments due to its stability and high-temperature resistance [5].

回国確心 China Silicon Industry 『 主办单位 : 中 国 有 色 金 属 工 业 协 会 硅 业 分 会 了 ㄴ Hosted by: Silicon Industry of China Nonferrous Metals Industry Association – ...

『 主办单位 : 中 国 有 色 金 属 工 业 协 会 硅 业 分 会 了 ㄴ Hosted by: Silicon Industry of China Nonferrous Metals Industry Association – 回国確心 China Silicon Industry ...

Core Viewpoint - The article emphasizes the importance of promoting green and low-carbon development in the manufacturing industry, highlighting the need for technological innovation, traditional industry transformation, and the establishment of a comprehensive support system for enterprises [1][2]. Group 1: Focus Areas of the Action Plan - The action plan will focus on three main areas: carbon footprint accounting standards for industrial products, the establishment of a new solid waste comprehensive utilization system, and the promotion of clean low-carbon hydrogen applications in the industrial sector [2]. - It aims to accelerate the development of carbon footprint accounting standards for key products such as steel, electrolytic aluminum, lithium batteries, and new energy vehicles, facilitating the reduction of carbon emissions throughout the product lifecycle [2]. - The plan will also address the comprehensive utilization of waste materials, particularly focusing on used power batteries and photovoltaic components, to prepare for the upcoming retirement peak [2]. Group 2: Key Strategies - Strengthening green technology innovation and application is a core direction of the action plan, aiming to fundamentally change manufacturing processes to reduce energy consumption and environmental pollution [3]. - The plan emphasizes the transformation of traditional industries, which are crucial yet challenging for green low-carbon development, by optimizing production equipment and processes to enhance energy efficiency and reduce emissions [4][5]. - For emerging industries, the plan advocates for high-standard green development, promoting clean energy use and resource recycling from the outset, particularly in sectors like new energy vehicles and photovoltaics [6]. Group 3: Technical and Policy Support - The action plan highlights the need for common technology breakthroughs, which are essential for supporting the green low-carbon development of the manufacturing sector, alongside the establishment of standardized practices [7]. - Optimizing policies and establishing a robust service system are crucial for creating a favorable environment for green transformation, including financial incentives and support services for enterprises [8].

2025年1—4月，太阳能发电新增装机量达到104.93GW，4月单月新增装机45.22GW，基本为上半年 光伏装机史上月度最高水平。随着"430"、"531"抢装结束，光伏产业链上硅片、电池片、组件各环节价 格经历涨跌波动后目前均有持稳倾向，而多晶硅环节则在本已现金流亏损的状态下，于4月中旬再次进 入价格下行通道，行业困局再度深化，目前企业仍在积极采取应对措施。 从企业生产经营策略来看，部分企业选择了检修，部分企业开始产能置换。首先，在5月份内，多 晶硅生产企业数量由之前的13家减少至11家，对目前已经稳定低负荷生产的企业来说，再度调低生产负 荷一方面会带来产品稳定性等问题，另一方面则会一定程度上增加生产成本，因此这部分企业倾向于暂 停生产进行检修，且后续部分企业也将有新增停产检修计划。另外，目前头部企业正在积极进行产能置 换，用运行较为良好的小产线，替换已经生产一定时间的大产线，并对全年的预期产量进行了近10万吨 的显著下调。整体来看，多晶硅企业开工率的积极调整有利于当前供需矛盾的缓解以及未来市场预期的 稳定。 从行业库存数量来看，截至2025年4月底，我国多晶硅库存约为39万吨，如果按照目前下游消费情 ...

Group 1 - In April 2024, the national newly installed photovoltaic capacity reached 45.22GW, a year-on-year increase of 215%, while newly installed wind power capacity was 5.34GW, up 255% [1] - From January to April 2025, the total newly installed photovoltaic capacity was 104.9GW, representing a 75% year-on-year growth, and newly installed wind power capacity was 19.96GW, with a 19% increase [1] Group 2 - The U.S. International Trade Commission concluded that solar products imported from four Southeast Asian countries threaten domestic manufacturers, leading to high tariffs on solar equipment from Cambodia, Malaysia, Thailand, and Vietnam [2] - Tariffs for Cambodian manufacturers could reach as high as 3521%, while Vietnam's average tariff is 396%, Thailand's is 375%, and Malaysia's is 34% [2] Group 3 - Hai Tai New Energy announced a change in fundraising plans, reallocating 146 million yuan originally intended for R&D projects to invest in a 2GW solar cell and 1GW module project in Indonesia [3] - The decision was influenced by industry overcapacity and a significant price drop exceeding 40%, leading to negative profit margins in the solar cell segment [3] Group 4 - Taiwan's Zhongmei Silicon and India's Premier Energies have formed a joint venture to produce high-quality silicon wafers in India, with an initial planned capacity of 2GW [4] - This collaboration aims to alleviate domestic demand pressures for solar silicon in India and is aligned with the Indian government's policies to expand solar energy production [4][5] Group 5 - Premier Energies, India's second-largest solar cell and module manufacturer, has a current solar cell capacity of 8.4GW and module capacity of 11.1GW, with ongoing expansion plans [5] - The partnership between Zhongmei Silicon and Premier Energies leverages both companies' strengths to meet domestic market demands and explore overseas markets amid geopolitical challenges [5]

Group 1 - The price of silicon wafers has stabilized this week, with N-type G10L monocrystalline silicon wafers priced at 0.95 yuan per piece, N-type G12R at 1.10 yuan, and N-type G12 at 1.30 yuan, all remaining unchanged from last week [1] - The stabilization of silicon wafer prices is attributed to improved market sentiment and a relatively stable supply-demand relationship, with increased purchasing orders from downstream due to the recent price drop [1] - The overall operating rate in the industry is around 55%, with major integrated companies operating at rates between 56% and 80%, and silicon wafer inventory has decreased to about 10 days of usage [1] Group 2 - Downstream prices for batteries and modules remain stable, with mainstream module prices at 0.66-0.67 yuan per watt and battery prices at 0.26-0.27 yuan per watt [2] - The overall photovoltaic industry is still in an adjustment phase, and the fluctuation of silicon material and battery prices is a significant factor affecting silicon wafer price trends [2] - If silicon material and battery prices stabilize in the future, silicon wafer prices are expected to follow suit [2]

结合近期市场趋势及企业动向，认为多晶硅价格将有止跌企稳的趋势。自本月开始，部分多晶 硅企业再度进入停产或检修状态，一定程度上反映了在极端市场行情下企业的避险行为，可视为本 阶段价格已达到企业承受亏损的极限。另外，即将进入丰水期，预计本年度暂无新增复产计划，均 为产能置换，甚至是 以 小产能 替代 大产能。供应大幅缩减能够在一定程度上缓解当前的供需错配 局面，缓和产业和企业的各方压力。 截至目前，在产企业数量为 11 家，基本全部处于降负荷运行状态。根据海关数据， 2025 年 4 月我国多晶硅进口量为 954.33 吨，出口量为 1262.29 吨 ， 当月 呈现净出口状态。 本周多晶硅价格持稳。 n 型复投料成交价格区间为 3.60-4.10 万元 / 吨，成交均价为 3.86 万元 / 吨； n 型颗粒硅成交价格区间为 3.50-3.70 万元 / 吨，成交均价为 3.60 万元 / 吨； p 型多晶硅成交价格区间为 3.00-3.50 万元 / 吨，成交均价为 3.13 万元 / 吨。 本周多晶硅整体成交量较少。目前生产企业对能够接受的最低价格存在较为一致的共识，短期 内将继续观望价格。另外，确实有小部 ...

Group 1 - The U.S. Department of Commerce announced anti-dumping and countervailing investigations on silicon metal imports from Angola, Australia, Laos, Norway, and Thailand, following a request from Ferroglobe USA, Inc. and Mississippi Silicon LLC [1] - The U.S. International Trade Commission (ITC) is expected to make a preliminary determination on industry damage by June 9, 2025, with further investigations and rulings scheduled for July 18 and October 1, 2025 [1] - In 2024, the estimated import values of the investigated products from the involved countries were approximately $4.15 million from Angola, $32.98 million from Australia, $18.42 million from Laos, $36.33 million from Norway, and $7.22 million from Thailand [1] Group 2 - In April, the industrial power generation in China increased by 0.9% year-on-year, with a total of 711.1 billion kWh generated [2] - Solar power generation in the industrial sector saw a significant increase of 16.7%, accelerating by 7.8 percentage points compared to previous months [2] - The growth rates for other energy sources included a 12.4% increase in nuclear power, a 12.7% increase in wind power, while thermal and hydro power saw declines of 2.3% and 6.5% respectively [2] Group 3 - Tongwei Co., Ltd. faced challenges in both the photovoltaic and feed sectors, experiencing its first loss since establishment due to supply-demand imbalances and intensified competition [3] - The company maintains a strategic focus on quality improvement, cost reduction, and innovation, achieving growth in aquaculture feed despite industry pressures [3] - The global transition to clean energy and carbon neutrality goals remain unchanged, with the photovoltaic sector expected to play a crucial role in energy transformation [3] Group 4 - JinkoSolar was included in the S&P Global and China Sustainable Development Yearbook 2025, ranking in the top 10% of over 1,600 participating Chinese companies with a CSA score of 69 [4][5] - The company emphasizes integrating sustainable development into its management practices, achieving significant energy efficiency improvements and establishing nine "zero-carbon factories" by the end of 2024 [5] - JinkoSolar's initiatives include a cumulative rooftop solar power generation of 213.310 MWh and energy-saving projects that resulted in approximately 112.78 MWh of electricity savings [5]