瑞达期货多晶硅产业日报-20251112

Report Industry Investment Rating - Not provided Core Viewpoints - The polysilicon market opened lower today but rallied in the late session due to news, erasing previous losses and turning positive. It is expected to continue rising, but excessive chasing is not recommended. The operation suggestion is to buy on dips [2] Summary by Relevant Catalogs Futures Market - The closing price of the main polysilicon contract was 53,460 yuan/ton, up 1,530 yuan; the open interest was 140,617 lots, up 1,772 lots; the basis between December and January was 100 yuan, up 80 yuan; the price difference between polysilicon and industrial silicon was 44,265 yuan/ton, up 1,515 yuan [3] 现货市场 - The spot price of polysilicon was 52,150 yuan/ton, down 50 yuan; the basis was -1,520 yuan/ton, down 505 yuan; the average price of N-type silicon wafers was 1.28 yuan/piece, down 0.01 yuan; the weekly average price of photovoltaic-grade polysilicon was 6.5 dollars/kg, unchanged [3] Upstream Situation - The closing price of the main industrial silicon contract was 9,195 yuan/ton, up 15 yuan; the spot price was 9,500 yuan/ton, unchanged; the monthly export volume was 70,232.72 tons, down 6,409.29 tons; the monthly import volume was 1,939.85 tons, up 602.27 tons [3] Industry Situation - The monthly output of industrial silicon was 402,800 tons, up 36,000 tons; the total social inventory was 552,000 tons, up 10,000 tons; the monthly output of polysilicon was 130,000 tons, up 5,000 tons; the monthly import volume was 1,292 tons, up 286 tons; the weekly spot price of imported polysilicon in China was 6.91 dollars/kg, unchanged; the monthly average import price was 2.35 dollars/ton, down 0.27 dollars [3] Downstream Situation - The monthly output of solar cells was 7,0873,000 kilowatts, up 1,016,000 kilowatts; the average price of mainstream photovoltaic modules was 0.74 yuan/watt, unchanged; the comprehensive price index of the photovoltaic industry was 32.82, unchanged; the average price of solar cells was 0.82 yuan/W, up 0.01 yuan; the monthly export volume of photovoltaic modules was 129,531,290 pieces, down 19,491,370 pieces; the monthly import volume was 14,733,770 pieces, down 6,706,520 pieces; the monthly average import price was 0.3 dollars/piece, up 0.06 dollars [3] Industry News - The China Photovoltaic Industry Association stated that relevant work is progressing steadily, and rumors are false information. In the polysilicon sector, the dry season in Southwest China has increased power costs, squeezing production profits and leading to production cuts. The downstream demand in the photovoltaic industry chain remains weak, with component tender prices falling and many projects postponed or shelved [3] Key Concerns - There is no news today [3]