建信期货多晶硅日报-20250822

Industry Investment Rating No relevant information found. Core Viewpoints - The price of the main contract of polysilicon continued to show high - level fluctuations. The closing price of PS2509 was 51,530 yuan/ton, with a 1.28% increase. The spot weekly average price (re - feeding material) rose to 47,900 yuan/ton. The spot price provides strong support for the futures price. The supply and demand in the fundamentals both increase, and there is no inventory reduction drive in the industry. Whether production restrictions and sales control can be realized in September needs to be observed. The overall supply and demand remain in a loose pattern. The futures and spot prices are rigidly supported by policies, showing wide - range fluctuations and a cautiously bullish operation [4]. Summary by Directory 1. Market Review and Outlook - Market Performance: The price of the main contract of polysilicon continued high - level fluctuations. The closing price of PS2509 was 51,530 yuan/ton, with a 1.28% increase, a trading volume of 447,553 lots, and an open interest of 149,610 lots, with a net decrease of 476 lots [4]. - Future Outlook: The spot weekly average price (re - feeding material) rose to 47,900 yuan/ton, providing strong support for the futures price. The supply and demand in the fundamentals both increase, and there is no inventory reduction drive in the industry. Whether production restrictions and sales control can be realized in September needs to be observed. The overall supply and demand remain in a loose pattern. The futures and spot prices are rigidly supported by policies, showing wide - range fluctuations and a cautiously bullish operation [4]. 2. Market News - On August 21, the number of polysilicon warehouse receipts was 6,460 lots, a net increase of 90 lots from the previous trading day [5]. - The transaction price range of polysilicon n - type re - feeding material was 45,000 - 52,000 yuan/ton, with an average transaction price of 47,900 yuan/ton, a week - on - week increase of 1.05%. The transaction price range of n - type granular silicon was 45,000 - 47,000 yuan/ton, with an average transaction price of 46,000 yuan/ton, a week - on - week increase of 3.37% [5]. - At the photovoltaic industry symposium on August 19, it was proposed to strengthen industrial regulation, curb low - price disorderly competition, standardize product quality, and support industry self - discipline [5].