【安泰科】多晶硅周评—节后签单放缓 产量有下降趋势（2025年5月7日）

Core Viewpoint - The market for rod silicon is currently stagnant, with no transactions taking place, and the price of n-type granular silicon has decreased by 2.70% compared to the previous period, averaging 36,000 yuan per ton [1] Market Conditions - The rod silicon market is characterized by a stalemate, with companies reporting minimal transactions. Downstream procurement has shifted from concentrated purchasing to sporadic small-scale restocking based on production schedules [1] - The prices of downstream products in the photovoltaic industry are declining again, leading downstream companies to tighten control over raw material costs. The expected procurement prices for polysilicon continue to drop, resulting in significant losses for most polysilicon companies, which are reluctant to lower prices for transactions [1] Production Adjustments - Due to the extreme market conditions, some polysilicon companies are considering advancing their scheduled maintenance from the third quarter to the second quarter or adjusting their operating loads based on actual order situations [1] - Currently, all polysilicon companies in operation in China are running at reduced capacity. Plans for new production from two companies have been canceled, and three companies that are about to undergo maintenance are gradually reducing raw material deliveries [1] - It is anticipated that domestic polysilicon production will decrease to approximately 96,000 tons in May, representing a month-on-month decline of about 3%, with the number of operating companies potentially reducing to around 10 in the second quarter [1]