本周大涨！多晶硅最高上涨3元/kg！

Core Insights - After a relatively stable price period in August, China's polysilicon prices have surged significantly this week, leading to a global average price increase of 3.9%, reaching $6.48/kg [1] Price Trends - Various data agencies report differing price increases for polysilicon in China this week: - The Silicon Industry Association indicates an average price rise of 1.1 CNY/kg - InfoLink reports an increase of 2 CNY/kg - Shanghai Metals Market (SMM) records an increase close to 3 CNY/kg - However, SMM's price index may overly rely on quoted prices rather than actual transaction prices [1] - Bernreuter Research adjusts the polysilicon price index for n-type silicon ingots from 46 CNY/kg (including 13% VAT) to 48 CNY/kg, equivalent to $5.95/kg excluding tax; the p-type polysilicon price index is adjusted from 38 CNY/kg to 40 CNY/kg, equivalent to $4.96/kg [1] - Non-Chinese polysilicon prices remain stable, with InfoLink reporting a price index of $18/kg [1] Supply and Demand Dynamics - The current market is characterized by "cooling procurement and high inventory": - By the end of August, polysilicon inventory among silicon wafer companies reached 208,000 tons, primarily concentrated in leading firms Longi and TCL Zhonghuan, while smaller companies face relatively lower inventory pressure [2] - On the supply side, polysilicon producers are attempting to leverage "production reduction agreements" as a bargaining chip to push for price increases; however, the effectiveness of this strategy is uncertain as some second and third-tier polysilicon companies have resumed production, undermining the constraints of the reduction agreements [2] - The sustainability of polysilicon price increases will depend on future changes in supply and demand dynamics [2]