【多晶硅】市场观望氛围浓厚 供需平衡迹象再现

Core Viewpoint - The domestic polysilicon market is experiencing a cautious trading atmosphere with prices remaining stable, influenced by supply-side adjustments and uncertain downstream demand [1][2]. Price Summary - The transaction price range for n-type re-investment material is between 50,000 to 63,000 CNY/ton, with an average price of 59,200 CNY/ton, showing no change week-on-week [1]. - The transaction price range for n-type granular silicon is also between 50,000 to 63,000 CNY/ton, with an average price of 55,800 CNY/ton, remaining stable [1][3]. Market Dynamics - The trading atmosphere in the domestic polysilicon market is described as quiet, with only a few companies making small exploratory orders [1]. - Factors contributing to the cautious sentiment include the anticipation of demand signals and the impact of rising silver prices on production costs for battery and module segments [1]. - The market is currently in a critical phase of supply-demand rebalancing, with significant supply-side reductions expected to support price stability [2]. Future Outlook - Short-term expectations indicate that polysilicon prices will continue to remain stable, with future market direction heavily reliant on actual changes in downstream operating rates and recovery in terminal demand [2]. - The first quarter of 2026 is projected to see monthly polysilicon production drop to a range of 70,000 to 90,000 tons due to planned production halts and significant reductions by leading companies [2].