Core Viewpoint - The article highlights the current stability in the pricing of polysilicon, with a notable decrease in new orders and a cautious market outlook from both upstream and downstream players [1]. Pricing Summary - The transaction price range for n-type re-investment materials is between 39,000 to 46,000 yuan/ton, with an average transaction price of 41,700 yuan/ton. The price range for n-type granular silicon is 38,000 to 41,000 yuan/ton, with an average of 39,000 yuan/ton. The p-type polysilicon transaction price range is 32,000 to 36,000 yuan/ton, with an average of 34,000 yuan/ton [1]. Market Activity - Most polysilicon companies are primarily executing previous orders, with only a small number of spot and futures orders being completed. Due to the low transaction volume, the market average price remains stable, and there is a noticeable wait-and-see attitude from both upstream and downstream [1]. Demand and Supply Dynamics - The demand for polysilicon has slightly decreased due to self-regulation within the industry, with some downstream companies adjusting their output. Downstream procurement is primarily driven by economic considerations, favoring granular silicon and mixed package materials with price advantages [1]. Future Market Expectations - It is expected that the upcoming concentrated procurement market will maintain stable prices, with leading manufacturers keeping their prices firm. Additionally, the upcoming April futures delivery for polysilicon will see some registered brand companies slightly increase the density of their products to facilitate warehouse registration [1]. Production Status - Currently, all operating polysilicon companies in China are generally running at reduced capacity, with only one company scheduled for maintenance. There is no significant change in the operating rates of other companies. New production capacities are gradually being put into operation from March to May, with no rapid production increase plans, leading to a slight and stable growth in overall output, which has a limited impact on total volume [1].