硅业分会：本周多晶硅成交温和修复 价格小幅上涨

Core Viewpoint - The domestic polysilicon market in China has experienced a slight price increase, indicating a recovery in market confidence after three months of stability [3][7]. Price Summary - The transaction price range for n-type re-investment material is between 50,000 to 56,000 yuan/ton, with an average transaction price of 53,900 yuan/ton, reflecting a week-on-week increase of 1.32% [1][5]. - The transaction price range for n-type granular silicon is between 50,000 to 51,000 yuan/ton, with an average price of 50,500 yuan/ton, remaining stable compared to the previous week [1][5]. - The transaction price for n-type dense material is between 48,000 to 53,000 yuan/ton, with an average price of 50,300 yuan/ton, showing a week-on-week increase of 1.21% [2][6]. Market Dynamics - The number of mainstream signing enterprises has slightly increased week-on-week, with most orders being for December, and transaction prices have risen by 1-2 yuan/kg [3][7]. - The polysilicon market has ended its previous three-month stability, with prices rising slightly and transaction volumes recovering, driven by three main factors: 1. To match the traditional off-season demand in Q1 2026, polysilicon companies are continuing to implement production cuts and sales control strategies, with expected production and shipment scale in January 2026 to be significantly reduced to 60,000-80,000 tons, effectively alleviating supply pressure [3][7]. 2. Production cuts have led to an increase in the comprehensive cost of polysilicon products, prompting price adjustments based on a pricing mechanism that covers costs [3][7]. 3. Both upstream and downstream companies recognize the importance of maintaining price stability to avoid negative chain reactions, with the recent price increase providing support for price stabilization across downstream sectors [3][7]. Future Outlook - The slight increase in polysilicon prices and moderate transaction volume suggest that market confidence is gradually recovering. In the short term, the polysilicon market is expected to achieve dual stabilization in both volume and price due to proactive supply tightening and smoother price transmission downstream [3][7].