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建信期货多晶硅日报-20250429
Jian Xin Qi Huo·2025-04-28 23:39

Report Information - Report Date: April 29, 2025 [2] - Research Team: Energy and Chemical Research Team [3] Industry Investment Rating - No information provided Core View - The polysilicon futures price rebounded but faced resistance and returned to a weak trend. The spot weekly price remained weak, and the price is expected to maintain a weak oscillation due to factors such as the end of the "rush installation" in the photovoltaic terminal, the reversal of supply - demand expectations, and the expected production increase after the wet season [4] Summary by Directory 1. Market Review and Outlook - Market Performance: The closing price of PS2506 was 37,780 yuan/ton, a decline of 3.05%. The trading volume was 80,862 lots, and the open interest was 55,092 lots, with a net decrease of 948 lots [4] - Future Outlook: The weekly spot price was weak. The成交 price range of N - type dense material was 35,000 - 37,000 yuan/ton, with an average成交 price of 35,900 yuan/ton, a 1.10% week - on - week decrease. By the end of April, the "rush installation" in the photovoltaic terminal was coming to an end, and the supply - demand expectation had reversed. There was also an expected production increase after the wet season, so the price would maintain a weak oscillation [4] 2. Market News - As of April 28, the number of polysilicon warehouse receipts was 10 lots, unchanged from the previous trading day [5] - In 2024, the global clean power accounted for 40.9%, the highest since the 1940s. The benchmark levelized cost of electricity for global photovoltaic power generation in 2025 is expected to decrease by 31% compared to 2024. China's cumulative installed capacity of distributed photovoltaic is expected to exceed 300GW in 2025, and the market size is expected to exceed 150 billion yuan [5]