热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 作者： 新能源及有色组 昨日多晶硅主力合约2605合约震荡上行，最终收于61595元/吨，涨幅4.36%。成交量37.33万手，持仓量 15.3万手，日增仓5450手。近日多晶硅持续上涨，并强势突破6万元/吨心理关口，主要是受到行业自律 减产落地、供应端收缩预期影响。 12月9日，九家多晶硅龙头企业联合中国光伏行业协会，在京注册成立平台公司"北京光和谦成科技有限 责任公司"。公司注册资本30亿元，法定代表人为侯一聪。 公司被业内视为多晶硅产能整合与战略收储 的"国家级操作平台"。同时，据SMM统计，多家多晶企业主动下调 12 月排产计划：硅料环节环比下降 约 10%，硅片环节下降 15-16%，电池片环节下降约 14%。受消息面和基本面的共同作用影响，多晶硅 表现强势。 当前多晶硅主力合约技术上已突破关键阻力位，确立新的上升趋势，但短期涨幅过大，同时基本面依然 存在供大于求、库存高企的现状，因此存在回调风险。投资者宜采取回调买入策略，同时警惕高库存和 需求不及预期带来的风险。 风险提示：短期回调风险、基本面风险、行业自律实际落地不及预期风险。 ...

1. Report Industry Investment Rating - No information provided in the content. 2. Core Viewpoints of the Report - The establishment of Beijing Guanghe Qiancheng Technology Co., Ltd. may completely reverse the long - term 'involution' competition pattern in the silicon material industry [2]. - The supply of polysilicon is in a contraction state, with production cuts in Sichuan, Yunnan and other places due to rising power costs during the dry season, and slow resumption of production in Baotou. The overall capacity utilization rate of the industry remains low, and most enterprises have no expansion plans [2]. - The demand of the polysilicon downstream photovoltaic industry shows a differentiated pattern of 'weak terminal and stable middle'. The domestic terminal installation demand progresses slowly, and the overseas European market's installation growth rate slows down. Downstream component enterprises adopt a 'production based on sales' model, and the demand for polysilicon is mainly for short - term production needs [2]. - The polysilicon price rebounded due to the impact of the equity news of the photovoltaic joint platform's establishment, and it is still in a volatile range, with the upper pressure at 58,000 [2]. 3. Summary According to Relevant Catalogs Futures Market - The closing price of the main polysilicon contract is 55,915 yuan/ton with a change of 305, the main position volume is 54,959 hands with a change of - 13,915, and the price difference between the January - February contracts is 185. The price difference between polysilicon and industrial silicon is 395 yuan/ton [2]. Spot Market - The spot price of polysilicon is 52,300 yuan/ton with a change of 0, and the basis is - 305 yuan/ton. The average price of N - type silicon wafers (210R) is 1.18 yuan/piece with a change of 0, and the weekly average price of photovoltaic - grade polysilicon is 0 US dollars/kg [2]. Upstream Situation - The closing price of the main industrial silicon contract is 8,250 yuan/ton with a change of - 90, the export volume of industrial silicon is - 25,159.39 tons (monthly), the spot price of industrial silicon is 9,200 yuan/ton with a change of 0, the import volume of industrial silicon is - 1,917.57 tons (monthly), the output of industrial silicon is 451,660 tons (monthly) with a change of 48,860, and the total social inventory of industrial silicon is 10,000 tons [2]. Industry Situation - The monthly output of polysilicon is 134,000 tons with a change of 4,000 tons, the monthly import volume of polysilicon is 154 tons, the weekly spot price of imported polysilicon materials in China is 6.92 US dollars/kg with a change of 2.57, and the monthly average import price of polysilicon is 0.22 US dollars/ton [2]. Downstream Situation - The monthly output of solar cells is 6,793.8 million kilowatts with a change of - 293.5, the weekly average price of mainstream photovoltaic components is 0 yuan/watt, the monthly export volume of photovoltaic components is 128,274,280 pieces with a change of - 1,257,010, the monthly import volume of photovoltaic components is - 1,790,030 pieces, and the monthly average import price of photovoltaic components is 0.02 US dollars/piece with a change of 0.33 [2]. Industry News - Beijing Guanghe Qiancheng Technology Co., Ltd., a platform with a registered capital of 3 billion yuan, was established in Beijing on December 9, 2025. It is regarded as a 'national - level operation platform' for polysilicon capacity integration and strategic storage [2].