[安泰科]多晶硅周评-供应预期收缩 市场走势持稳（2025年11月5日）

Group 1 - The core viewpoint of the article indicates that the domestic polysilicon market is maintaining a weak and stable trend, with slight recovery in transaction activity and stable prices due to supply-side production reduction expectations and policy support [1][2]. - The average transaction price for n-type reprocessed material is 53,200 yuan/ton, while n-type granular silicon is at 50,500 yuan/ton, both showing no change compared to the previous week [1][3]. - The total production of polysilicon in November is expected to drop to below 120,000 tons, primarily due to increased electricity costs during the dry season in the southwestern region [1][2]. Group 2 - Currently, there are 11 domestic polysilicon producers, with two major companies expected to reduce production and undergo maintenance, leading to a significant decrease in total supply by approximately 12.4% [2]. - Despite the supply contraction, the polysilicon market remains in a state of oversupply, with high industry inventory and weak end-user demand limiting price increases [2]. - The new national standard for energy consumption limits for silicon and germanium products is in the consultation phase, which is anticipated to drive capacity clearance and industry upgrades once implemented [1].