目前来看，多晶硅行情呈现震荡下行走势，盘面表现偏弱。对于多晶硅后市行情将如何运行，相关机构 观点汇总如下： 东海期货指出，昨日工信部组织光伏企业座谈会，会议提出加强产业调控，遏制低价无序竞争，规范产 品质量，加强行业自律。光伏行业反内卷行业仍存，但是具体落地方案有待进一步推出，预期多晶硅高 位震荡。 中辉期货表示，尽管多晶硅基本面偏空，8月社会库存将继续累库。昨日工信部召开光伏产业座谈会， 要求加强产业调控，遏制低价无序竞争等，回调买入。 8月20日，国内期市有色金属板块跌幅居前。其中，多晶硅期货主力合约开盘报51700.0元/吨，今日盘 中低位震荡运行；截至午间收盘，多晶硅主力最高触及51990.0元，下方探低49370.0元，跌幅达 3.98%。 瑞达期货（002961）分析称，供给增加，需求减弱，预计下周多晶硅行情将面临继续调整。价格虽有成 本和政策支撑，但上方空间受下游接受程度限制，大概率呈现震荡走势。而工业硅方面需求开始稳步下 滑，但供给有所下滑，整体依旧维持震荡态势。操作建议，暂时观望，或者布局看跌期权。 ...

Group 1 - The core viewpoint of the news is the emphasis on regulating the competitive order in the photovoltaic industry to promote high-quality development and sustainable growth [1] - A meeting was held on August 19, involving multiple government departments and photovoltaic manufacturing and power generation companies, to discuss the importance of maintaining a healthy competitive environment [1] - The meeting outlined four key areas for regulating the photovoltaic industry: strengthening industrial regulation, curbing low-price disorderly competition, standardizing product quality, and supporting industry self-discipline [1] Group 2 - The industrial production price index (PPI) for July showed a month-on-month decrease of 0.2%, with the decline narrowing by 0.2 percentage points compared to the previous month, marking the first improvement since March [2] - The price recovery in the photovoltaic equipment and components manufacturing sector was particularly notable, with the month-on-month price decline narrowing by 0.8 percentage points in July [2] - The optimization of market competition order in various sectors, including coal, steel, and photovoltaic, has contributed to the narrowing of price declines [2]

Core Viewpoint - The meeting held by the Ministry of Industry and Information Technology and other departments emphasizes the importance of regulating competition in the photovoltaic industry to promote high-quality development and sustainable growth [1][2]. Group 1: Meeting Outcomes - The meeting highlighted the need for all parties in the photovoltaic industry to recognize the significance of regulating competition for high-quality development [1]. - Key measures discussed include strengthening industry regulation, managing project investments, and promoting the orderly exit of outdated production capacity [1]. - The meeting called for actions to curb low-price disorderly competition, including establishing price monitoring mechanisms and combating illegal practices such as selling below cost and false marketing [1]. - There is a focus on standardizing product quality, with efforts to combat practices like lowering quality control and infringing on intellectual property rights [1]. - The meeting also emphasized the role of industry associations in advocating for fair competition and technological innovation while maintaining quality and safety standards [1]. Group 2: Policy Context - The Ministry of Industry and Information Technology has repeatedly mentioned the need to strengthen governance in key industries, including photovoltaics [2]. - The "anti-involution" policy has evolved from initial self-regulation to a more comprehensive policy framework that includes supply-side reforms and the establishment of a unified national market [2]. - The photovoltaic industry, along with automotive, agriculture, and cyclical products, is expected to benefit from the clearing of production capacity and technological advancements [2].

Core Viewpoint - The proposed guidelines for government investment funds aim to enhance industry layout optimization and strengthen industry regulation by directing investments towards encouraged sectors and away from restricted ones [1] Group 1 - The guidelines emphasize the importance of incentive and constraint mechanisms to prevent local governments from using investment funds to indirectly subsidize overcapacity sectors [1] - The measures are designed to avoid redundant investments and chaotic competition within industries [1] - Local governments are encouraged to rationally allocate fund layouts based on evaluation results, improving the operational management and investment decision-making processes of government investment funds [1] Group 2 - The guidelines aim to fully transmit incentive and constraint mechanisms to all levels of funds and managers, thereby better mobilizing the enthusiasm of all parties involved [1]