展望后市，预计短期内，多晶硅价格将继续维持平稳运行。后续市场的走向将更多依赖于下游开工率的 实际变动以及终端需求的回暖程度。待需求端信号明确后，硅料价格将根据阶段性的供需格局波动。 国内太阳能级多晶硅价格(2026.01.14) | 国内太阳能级多晶硅成交价 | | | | | | | --- | --- | --- | --- | --- | --- | | 产品 | 最高价 | 最低价 | 相 | 波动 | 波动% | | n型复投料成交价 | 6.30 | 5.00 | 5.92 | 0.00 | 0.00% | | n型致密料成交价 | 6.00 | 4.80 | 5.53 | 0.00 | 0.00% | | p型多晶硅成交价 | | | | | | | n型颗粒硅成交价 | 6.30 | 5.00 | 5.58 | 0.00 | 0.00% | | 单位:万元/吨 | | | | 更新日期: | 2026-1-14 | 注1:此价格根据9家多晶硅生产企业的n型料、p型料产量占比,通过加权平均 整理所得(参与价格统计的9家企业2025年4季度产量占国内总产量的89.3%,n型用 料占比91.6%), ...

| 参与机械机工工业在电话: | | | --- | --- | | 四川永祥股份有限公司 | 协鑫科技控股有限公司 | | 新特能源股份有限公司 | 东方希望集团有限公司 | | 亚洲硅业(青海)股份有限公司 | 青海丽豪清能股份有限公司 | | 新疆戈恩斯能源科技有限公司 | 新疆晶诺新能源产业发展有限公司 | | 新疆其亚硅业有限公司 | | 据安泰科统计，本周多晶硅 n型复投料成交价格区间为 5.0 - 6.3 万元 /吨，成交均 价为5. 92 万元 /吨， 环比持平 。 n型颗粒硅成交价格区间为5.0- 6.3 万元 /吨，成交 均价为5. 58 万元 /吨， 环比持平 。 本周国内多晶硅市场交投氛围清淡，暂无规模性成交，仅有个别企业达成少量试 探性订单。上下游企业普遍持观望态度，主要原因在于：一方面，尽管光伏产品出 口退税政策落地对电池、组件出口的短期预期形成支撑，但部分需求已在 2025年提 前预支，导致其对当前需求的实际拉动效果相对有限。另一方面，白银价格持续高 涨大幅推升了电池片及组件环节的生产成本，而终端电站对成本上涨的接受度尚不 明朗，致使下游开工率调整的不确定性较高。目前市场各方均在 ...

1. Report Industry Investment Rating - No relevant content provided 2. Core View of the Report - The price of the main contract of polysilicon continued to show high - level oscillations. The spot price provides strong support for the futures price, but the supply - demand balance in the industry requires more policy constraints and guidance. The overall supply - demand remains in a loose pattern. In the short term, the price will maintain a wide - range oscillation, and caution should be exercised regarding the policy exceeding expectations in the capital game [4]. 3. Summary by Relevant Catalogs 3.1 Market Performance - The closing price of the PS2509 contract of polysilicon was 52,260 yuan/ton, with a decline of 0.53%. The trading volume was 580,607 lots, and the open interest was 137,977 lots, with a net increase of 2,460 lots [4]. 3.2 Market Outlook - The average spot price (re - feedstock) was stable at 47,500 yuan/ton. The silicon industry association expects the production in September to reach 145,000 tons. The futures and spot prices are supported by policies at the bottom and restricted by supply - demand pressure at the top, and will maintain a wide - range oscillation in the short term [4]. 3.3 Market News - On August 19th, the number of polysilicon warehouse receipts was 5,930 lots, with a net increase of 110 lots compared to the previous trading day. From January to June, the cumulative photovoltaic installed capacity was 212.21GW, a year - on - year increase of 107.07%, and the domestic installed capacity in June was only 14GW. In June 2025, China exported about 21.7GW of photovoltaic modules, a 3% month - on - month decrease and a 2% decrease compared to June 2024. From January to June, the cumulative export of photovoltaic modules was about 127.3GW, a 3% decrease compared to the same period last year [5].

Report Information - Date: August 19, 2025 [2] Market Performance and Outlook - The main contract price of polysilicon continued to show high-level volatility. The closing price of PS2509 was 52,280 yuan/ton, with a gain of 1.71%. The trading volume was 425,548 lots, and the open interest was 135,517 lots, a net decrease of 3,206 lots [4] - The photovoltaic enterprise symposium has reignited strong policy implementation expectations, but the futures market has already priced in some of these expectations. Further upward movement depends on subsequent policy support. In the second week of August, the average spot price (recycled feedstock) remained stable at 47,500 yuan/ton, providing strong support for the futures price. However, both supply and demand in the fundamentals are increasing, and there is no inventory reduction drive. The Silicon Industry Branch expects the production schedule in September to reach as high as 145,000 tons, and the rebalancing of industry supply and demand still has a long way to go [4] - On the supply side, the polysilicon production schedule in August increased significantly to 125,000 tons, which can roughly meet the downstream cell demand of about 56GW. The monthly production of silicon wafers and cells decreased to around 52GW, and the overall supply-demand pattern remains loose. Overall, the futures and spot prices are supported by policies at the lower end and restricted by supply-demand pressures at the upper end, and are expected to maintain wide-range volatility. Caution should be exercised regarding capital speculation on excessive policy expectations [4] Market News - On August 18, the number of polysilicon warehouse receipts was 5,820 lots, a net increase of 220 lots from the previous trading day [5] - From January to June, the cumulative photovoltaic installed capacity was 212.21GW, a year-on-year increase of 107.07%. In June, the domestic installed capacity was only 14GW [5] - Customs data shows that in June 2025, China exported approximately 21.7GW of photovoltaic modules, a 3% month-on-month decrease and a 2% decrease compared to 22.1GW in June 2024. From January to June, the cumulative export of photovoltaic modules was approximately 127.3GW, a 3% decrease compared to the same period last year [5]