Core Viewpoint - Fused quartz and quartz are both composed of silicon dioxide (SiO₂) but differ in manufacturing processes, purity levels, and specific characteristics, leading to unique applications and properties [1][4]. Group 1: Composition and Structure - Both fused quartz and quartz are primarily made of silicon dioxide (SiO₂) [3]. - Fused quartz is amorphous, lacking a crystal structure, while quartz has a crystalline structure [3]. Group 2: Manufacturing Process - Fused quartz is produced by melting high-purity silica sand at extremely high temperatures, resulting in a glass-like non-crystalline material [3]. - Quartz is a naturally occurring mineral that is processed after mining for various uses [3]. Group 3: Purity Levels - Fused quartz typically has a chemical purity exceeding 99.9%, making it suitable for applications requiring high optical clarity and chemical resistance [3]. - Natural quartz also has a high SiO₂ content but may contain trace impurities depending on its source [3]. Group 4: Thermal Properties - Fused quartz has a very low thermal expansion coefficient, providing strong thermal shock resistance, making it suitable for high-temperature applications [3]. - Quartz also has a low thermal expansion coefficient, but its crystalline structure can make it more susceptible to thermal stress under certain conditions [3]. Group 5: Optical Characteristics - Fused quartz offers excellent ultraviolet (UV) transmittance, making it ideal for lenses and other optical devices [3]. - While quartz also has good optical properties, fused quartz provides better transparency across a wider spectral range due to its amorphous structure [3]. Group 6: Electrical and Chemical Resistance - Fused quartz exhibits outstanding electrical insulation properties, making it suitable for electronic and semiconductor applications [3]. - Both materials have strong corrosion and chemical resistance, but fused quartz's higher purity often results in better performance in corrosive chemical environments [3]. Group 7: Applications - Fused quartz is commonly used in high-precision optical components, semiconductor manufacturing, and high-temperature lighting applications [3]. - Quartz is typically used in less demanding optical applications, as well as in the production of quartz glassware and industrial components [3]. Conclusion - Although fused quartz and quartz share the same chemical composition, they differ significantly in structure, performance, and applications, with fused quartz being particularly suited for demanding applications in optics, electronics, and high-temperature environments [4].

Core Viewpoint - The article discusses the recent "anti-involution" measures being implemented across various industries in China, particularly in steel, photovoltaic, and cement sectors, aimed at addressing excessive competition and promoting high-quality development [1][2][3]. Group 1: Industry Actions - Major photovoltaic glass companies have collectively decided to reduce production by 30% starting in July to alleviate "involution" competition [1]. - The China Cement Association has issued guidelines to further promote "anti-involution" and stabilize growth in the cement industry [1]. - Some steel mills have received notifications for production cuts, indicating a proactive approach to managing supply and demand [1]. Group 2: Market Response - The market has responded positively to the proactive production cuts across various industries, with analysts noting that the photovoltaic sector is facing weakening demand and price pressures [1]. - Open-source securities research indicates that prices for multiple products in the photovoltaic industry have fallen below cash cost levels, necessitating the production cuts to improve supply-demand dynamics [1]. Group 3: Policy and Regulatory Framework - The recent "anti-involution" measures are part of a broader governmental strategy to regulate excessive competition, with the Central Economic Committee emphasizing the need for orderly exit of outdated production capacity [2][3]. - The new revisions to the Anti-Unfair Competition Law aim to address "involution" competition, indicating a shift towards legal regulation of market practices [2]. - The focus of the current "anti-involution" initiative is on enhancing policy and market mechanisms, with an emphasis on industry self-discipline and the promotion of high-quality development through technological upgrades [2][3]. Group 4: Future Outlook - The current round of "anti-involution" is expected to lead to a shift from low-cost, homogeneous competition to high-end, differentiated competition in manufacturing [3]. - There is an anticipation of more targeted "anti-involution" policies being introduced, which could provide a turning point for supply-side adjustments in industries like photovoltaic, steel, and cement [3].

Core Viewpoint - The article highlights the issue of "involution" in various industries, particularly in the automotive sector, where excessive competition leads to low profit margins despite high production and sales volumes [1][11][30]. Group 1: Involution in Industries - The automotive industry's profit margin in Q1 2024 was only 3.9%, contrasting sharply with the industry's vibrant public image and record production and sales [1]. - The Chinese automotive industry is experiencing a decline in profitability due to chaotic price wars, which are a manifestation of "involution" [1][15]. - Other sectors such as photovoltaic, lithium batteries, and express delivery are also suffering from similar "involution" issues, leading to widespread concern [1][11]. Group 2: Causes of Involution - "Involution" is characterized by competition that does not lead to growth, often resulting in inefficiencies and resource wastage [2][5]. - Factors contributing to "involution" include local government policies that encourage unhealthy competition, supply-demand imbalances, and inadequate legal frameworks [6][22]. - The phenomenon is exacerbated by companies engaging in price wars to maintain market share, even at the cost of profitability [5][20]. Group 3: Impact of Involution - Excessive competition leads to resource wastage and hinders innovation, as companies focus on survival rather than development [3][4]. - The manufacturing sector, particularly in LED lighting and other industries, faces significant challenges due to low-price competition, which discourages investment in research and development [3][4]. - The automotive industry's low profit margins also negatively impact upstream suppliers, such as steel manufacturers, creating a ripple effect throughout the supply chain [16]. Group 4: Government and Industry Response - The central government has recognized the urgency of addressing "involution" and has called for comprehensive measures to regulate competition and promote healthy market practices [11][12]. - Various government departments are implementing policies to combat "involution," including stricter regulations on government procurement and industry standards [12][13]. - Industry associations are advocating for self-regulation and the establishment of fair competition practices to mitigate the effects of "involution" [14][30]. Group 5: Future Directions - Companies are encouraged to innovate and shift from "stock competition" to "incremental creation" to escape the cycle of "involution" [20][21]. - The government is focusing on optimizing industrial layouts and preventing the expansion of outdated capacities to foster a healthier competitive environment [26][27]. - Strengthening intellectual property protections and ensuring fair competition are essential steps to combat the adverse effects of "involution" [29][30].

近年来，在全球绿色产业竞赛中，中国制造凭借新技术、新产品脱颖而出。尤其以新能源汽车、锂 电池、光伏产品为代表的"新三样"叫响全球。 但与此同时，"内卷式"竞争逐渐成为舆论焦点，新能源汽车、锂电池、光伏以及风电、储能等领域 这一问题均受到诟病。 《求是》杂志在7月1日刊文《深刻认识和综合整治"内卷式"竞争》，对"内卷式"竞争发出严厉警 告，文章认为，价格战造成社会资源的极大浪费，不可持续的债务可能危及长期增长。 文章在分析内卷表现时指出，一些地方政府为招引企业、培育产业，人为制造政策洼地，违规实施 税费、补贴、用地等不公平非普惠的优惠政策，导致无序竞争，破坏公平竞争秩序。 文章在分析"内卷式"竞争是怎么形成的时指出，由于政府缺位越位等行为时有发生，很大程度上影 响公平竞争市场环境的形成。有的地方政绩考核机制不完善，导致政绩观、发展观错位，为了追求短期 经济增长而搞地方保护、市场分割、恶性比拼招商引资政策等，妨碍资源要素高效流动。此外，由于破 产重整制度不完善，加上有的地方政府行政力量干预，导致一些本该淘汰的落后和过剩产能不能及时退 出，部分企业"活不好、死不了"，影响了产业重组和资源利用效率的提高。 文章指出， ...

Core Viewpoint - The industrial silicon market is experiencing a recovery in sentiment and price increase due to rising futures prices, production cuts from major northern manufacturers, and increased demand from polysilicon [1] Group 1: Market Dynamics - Industrial silicon futures have shown significant upward momentum since June 23, hovering around 8000 yuan/ton recently [1] - Major northern manufacturers are not meeting production resumption expectations and have begun to cut production, alleviating supply pressure [1] - Although some manufacturers in the southwest region are resuming production due to lower electricity prices, overall market prices remain unsatisfactory, with operating rates significantly below previous years [1] Group 2: Inventory and Supply-Demand Balance - Inventory has been gradually decreasing since April, indicating a basic balance between supply and demand; as of July 3, 2025, industrial silicon warehouse inventory stood at 259,300 tons, down 54,200 tons in one month [1] - The supply side still has potential for growth, but limited by low operating rates in the southwest and production cuts from major manufacturers [1] - Demand is slightly increasing due to the resumption of polysilicon production, high operating rates in organosilicon, and stable demand for aluminum alloys, suggesting a continued state of supply-demand balance [1] Group 3: Future Outlook - The production cut plans from major manufacturers and the expected resumption of polysilicon production are boosting market sentiment [1] - Continuous monitoring of production changes from major manufacturers and shifts in downstream demand is essential, with expectations of slight price increases [1]

Group 1 - Trina Solar's Huai'an base has completed the first phase of a 50GW monocrystalline silicon wafer project, with a total investment of 20 billion yuan and a planned total investment of 30 billion yuan [1] - The project includes the production of high-efficiency photovoltaic cells and large-capacity photovoltaic modules, making it an integrated manufacturing base for silicon wafers, cells, and modules [1] Group 2 - JA Solar has signed two photovoltaic module supply agreements with South African renewable energy company JUWI for a total installed capacity of 220MW, contributing to a significant increase in South Africa's clean energy share [2] - The completion of these projects will increase South Africa's total photovoltaic installed capacity by approximately 5% [2] Group 3 - In May, the national photovoltaic power generation utilization rate reached 94.2%, while wind power utilization was at 93.2%, indicating strong performance in renewable energy consumption [3] Group 4 - LONGi Green Energy plans to increase capital by 1.08 billion yuan to its subsidiary LONGi Leye Photovoltaic Technology Co., Ltd., which will then invest in the implementation of a 12GW high-efficiency monocrystalline battery project [4] - This capital increase aligns with the company's approved fundraising project implementation needs [4]

Group 1 - The price of silicon wafers continues to decline, with N-type G10L wafers averaging 0.86 yuan per piece, down 3.37% week-on-week; N-type G12R wafers at 1.00 yuan, down 1.96%; and N-type G12 wafers at 1.19 yuan, down 3.25% [1] - The main reasons for the decline in silicon wafer prices are weak demand and price pressure from downstream battery manufacturers, leading to slow procurement of silicon wafers [1] - The overall operating rate in the industry has slightly decreased, with leading companies operating at 50% and 52%, while integrated companies are operating between 50%-80% [1] Group 2 - Downstream battery and module prices have also slightly decreased, with mainstream battery prices at 0.23-0.24 yuan/W, down 0.01 yuan/W, and module prices at 0.65-0.66 yuan/W, also down 0.01 yuan/W [2] - Recent policy meetings have emphasized the need to regulate low-price competition and encourage companies to improve product quality, aiming to phase out outdated production capacity [2] - There is a strong willingness among silicon wafer manufacturers to maintain prices as current wafer prices are below the cash costs of most producers, and major manufacturers plan to reduce operating rates by about 40% starting in July [2]

Core Viewpoint - The industrial silicon spot price has increased due to a combination of factors including rising futures prices, production cuts from major northern manufacturers, and increased demand from polysilicon [1][2] Group 1: Price Movements - The main contract closing price fluctuated from 7720 CNY/ton to 8210 CNY/ton, with a rise of 6.35% [1] - The national average price rose by 60 CNY/ton to 8743 CNY/ton, with specific grades showing increases: 553 grade at 8502 CNY/ton, 441 grade at 8752 CNY/ton, and 421 grade at 9297 CNY/ton [1] - FOB prices increased by 10 USD/ton, influenced by exchange rate rises and futures market rebounds [1] Group 2: Supply and Demand Dynamics - Northern manufacturers' production recovery is slower than expected, and there are reports of production cuts, leading to reduced supply in the northern region [1] - New capacity in the southern region is being deployed as planned, and some manufacturers are ramping up production during the wet season, contributing to an overall increase in national output [1] - Demand from organic silicon monomer plants remains stable, with minimal impact on industrial silicon demand; polysilicon plants are also maintaining stable production [1] Group 3: Market Sentiment - The industrial silicon spot market sentiment has improved due to rising prices and production cut news, although downstream buyers remain cautious and procurement is limited [1] - The recent surge in polysilicon futures has positively influenced industrial silicon futures and spot prices, but the upward momentum for spot prices may be limited [2]

Core Viewpoint - The polysilicon market shows signs of recovery with slight price increases, driven by stable production levels and government measures to control competition and support the industry [2][3]. Price Trends - The transaction price range for n-type polysilicon is between 34,000 to 38,000 yuan per ton, with an average price of 34,700 yuan per ton, reflecting a slight week-on-week increase of 0.87% [1]. - The average transaction price for n-type granular silicon remains stable at 33,500 yuan per ton [1]. Market Dynamics - The polysilicon market has seen a slight recovery, with some previously delayed orders being renegotiated at higher prices, despite most companies not securing significant new orders [2]. - The average price of polysilicon has been below the industry average cost for over a year, leading to the shutdown of four companies in the first half of this year and a total of nine since the beginning of 2024 [2]. Production and Supply - As of this week, the number of operating polysilicon companies in China has decreased to nine, with two additional companies recently ceasing operations without clear plans for resumption [3]. - Domestic polysilicon production in June was approximately 102,000 tons, remaining stable and matching demand, with a total production of about 596,000 tons in the first half of the year, a year-on-year decrease of 44.1% [3]. Future Outlook - The forecast for global polysilicon demand in 2025 is around 1.4 million tons, with domestic demand expected to be approximately 1.3 million tons [3]. - Without production increases from domestic polysilicon companies, the total output for the year is expected to be around 1.2 million tons, with inventory consumption of about 100,000 tons in the second half of the year [3]. - The industry must control capacity increases and push for the exit of outdated production capacities to fundamentally resolve supply-demand conflicts and stabilize prices across the photovoltaic industry chain [3].

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 – ...