（文章来源：每日经济新闻） 每经AI快讯，8月13日，硅业分会发文称，本周多晶硅n型复投料成交价格区间为4.5-4.9万元/吨，成交 均价为4.74万元/吨，周环比上涨0.42%。n型颗粒硅成交价格区间为4.4-4.5万元/吨，成交均价为4.45万 元/吨，周环比上涨0.45%。 ...

Group 1 - The average transaction price of polysilicon n-type raw materials this week is 47,100 yuan/ton, with a week-on-week increase of 0.64% [1] - The average transaction price of n-type granular silicon is 44,300 yuan/ton, with a week-on-week increase of 0.68% [1] - The increase in polysilicon prices is primarily due to rising downstream silicon wafer prices and reduced inventory pressure for some wafer companies, leading to a slight price increase by polysilicon producers [1] Group 2 - The number of domestic polysilicon producers has returned to 10, with two companies partially resuming production, contributing to a slight output increase [2] - In July, domestic polysilicon production was approximately 107,800 tons, a month-on-month increase of 5.7%, while the cumulative production from January to July was 704,900 tons, a year-on-year decrease of 41.5% [2] - The expected production for August is around 125,000 tons, and if capacity integration occurs as planned, domestic polysilicon capacity may reduce to approximately 2.3 million tons per year [2]

Group 1 - The Hong Kong Monetary Authority (HKMA) will announce a summary of the "Stablecoin Issuer Licensing Regime" next week, addressing recent scams related to digital assets and stablecoins [1] - The "Stablecoin Ordinance" came into effect on August 1, making it illegal to promote unlicensed stablecoins to the public in Hong Kong [1] Group 2 - U.S. stock indices closed higher, with the Dow Jones Industrial Average rising by 507.85 points, or 1.14%, to 45010.29 points [2] - The Nasdaq China Golden Dragon Index increased by 0.75%, with notable gains in stocks like iQIYI and Pinduoduo [2] Group 3 - Goldman Sachs and BNY Mellon are set to create a tokenized money market fund for institutional investors, following the establishment of a stablecoin regulatory framework in the U.S. [3] - The tokenized money market fund will provide returns to holders, appealing to hedge funds, pension funds, and corporate cash management [3] Group 4 - Morgan Stanley predicts that the Federal Reserve will not lower interest rates this year, potentially delaying any cuts until March 2026 [4] Group 5 - India has resumed issuing tourist visas to Chinese citizens, leading to a tenfold increase in flight searches to Delhi [5] - Business visa applications to India have increased by 63% year-on-year [5] Group 6 - The average price of solar-grade polysilicon in China increased by 12.23% week-on-week, with n-type re-investment material averaging 4.68 million yuan per ton [6] Group 7 - The National Development and Reform Commission reported a slight decrease in pig farming profits, with average profits per head falling below 50 yuan [7][8] Group 8 - The State Council has announced a temporary tax exemption policy for goods processed in Hainan Free Trade Port, encouraging local industries [9] Group 9 - Hong Kong's new stock financing amount reached $14.1 billion in the first half of 2025, a 695% increase year-on-year, significantly outpacing global growth [10] - The Hang Seng Index rose over 20% during the same period, driven by renewed investor interest [10] Group 10 - State Grid New Energy Holdings signed a capital increase project worth 36.5 billion yuan, marking a record in cash fundraising in state asset transactions [11] Group 11 - Alibaba Cloud has launched the Qwen3-Coder AI programming model, offering competitive pricing compared to other models [12] Group 12 - Times Electric expects its IGBT chip production lines to reach full capacity by the end of 2025, with significant expansions planned [13] Group 13 - Marco Digital Technology plans to subscribe to preferred shares of the stablecoin payment platform KUN for a total of $6 million [14] Group 14 - Zhongchuang Innovation Holdings anticipates a net profit increase of approximately 70% to 90% for the first half of 2025 [15][16] Group 15 - UBTECH has launched the Walker S2 industrial humanoid robot, designed for smart manufacturing applications [17] Group 16 - Western Cement expects a 80% to 100% increase in net profit for the first half of 2025 compared to the previous year [18] Group 17 - SenseTime plans to issue approximately 1.67 billion new Class B shares to raise about 24.98 billion HKD, strengthening its position in the generative AI sector [19] Group 18 - Nine Dragons Paper has announced a price increase of 30 yuan per ton, driven by rising costs and new national standards [20]

Group 1 - The photovoltaic concept stocks collectively strengthened, with Shuangliang Energy hitting the daily limit, and Tianyi New Materials, Zhonglai Co., and TCL Zhonghuan rising over 5% [1] - Other companies such as Hongyuan Green Energy, Yijing Optoelectronics, Shouhang New Energy, Oujing Technology, and GCL Integration also experienced gains [1] - According to the China Nonferrous Metals Industry Association Silicon Industry Branch, the transaction price range for multi-crystalline silicon n-type raw materials this week was 40,000-49,000 yuan/ton, with an average transaction price of 41,700 yuan/ton, reflecting a week-on-week increase of 12.4% [1] - The transaction price range for n-type granular silicon was 40,000-45,000 yuan/ton, with an average transaction price of 41,000 yuan/ton, showing a week-on-week increase of 15.2% [1]

Core Viewpoint - The recent increase in multi-crystalline silicon transaction orders indicates a stabilization in price trends, despite weak fundamental support in supply and demand [1] Price Trends - The transaction price range for n-type re-investment material is between 40,000 to 49,000 yuan per ton, with an average transaction price of 41,700 yuan per ton, reflecting a week-on-week increase of 12.4% [1] - The transaction price range for n-type granular silicon is between 40,000 to 45,000 yuan per ton, with an average transaction price of 41,000 yuan per ton, showing a week-on-week increase of 15.2% [1] Market Outlook - Despite the recent price increases, the fundamental support for multi-crystalline silicon remains weak, and there has not been a substantial improvement in supply and demand [1] - In the short term, silicon material prices are expected to maintain a slight upward trend while remaining in a state of observation and minor fluctuations [1]

Core Viewpoint - The recent increase in polysilicon prices is driven by improved transaction activity, but the fundamental support for these price increases remains weak, indicating a potential for short-term fluctuations rather than sustained growth [1][3]. Group 1: Price Trends - The transaction price range for n-type polysilicon this week is between 40,000 to 49,000 yuan per ton, with an average transaction price of 41,700 yuan per ton, reflecting a week-on-week increase of 12.4% [1]. - The transaction price range for n-type granular silicon is between 40,000 to 45,000 yuan per ton, with an average price of 41,000 yuan per ton, marking a week-on-week increase of 15.2% [1]. - The overall transaction volume has significantly increased this week, with around six companies reaching new orders, indicating a notable improvement in market activity compared to the previous week [1]. Group 2: Supply and Demand Dynamics - Currently, there are nine domestic polysilicon producers, with three gradually resuming production, which will have a limited impact on July's supply, expected to be around 105,000 tons, with a slight increase to approximately 110,000 tons in August [2]. - The downstream demand for polysilicon is expected to remain stable at around 110,000 tons per month, with no new inventory pressure in the market [2]. - The price difference for recycled materials is as high as 9,000 yuan per ton, but this is unlikely to be sustainable due to cost pressures and the potential shift towards more price-attractive resources by downstream silicon wafer companies [2]. Group 3: Market Outlook - Despite the recent price increases, the fundamental support for polysilicon prices is weak, and the market is expected to experience slight fluctuations in the short term [3]. - A significant price increase may occur if downstream silicon wafer companies are forced to reduce production due to high raw material costs and low downstream prices, which could improve the supply-demand relationship [3]. - The polysilicon market is anticipated to gradually return to rational development as supply contracts and downstream acceptance improves, alongside better market expectations [3].

Core Insights - The price range for n-type polysilicon feedstock this week is reported between 34,000 to 38,000 CNY per ton, with an average transaction price of 37,100 CNY per ton, reflecting a week-on-week increase of 6.92% [1] - The transaction price range for n-type granular silicon is between 34,000 to 37,000 CNY per ton, with an average price of 35,600 CNY per ton, showing a week-on-week increase of 6.27% [1] - This week, polysilicon prices continued to rise, with the price range increasing to 45,000 to 50,000 CNY per ton [1] Price Adjustments - Polysilicon prices have been significantly adjusted upwards by 25% to 35%, although new order transaction volumes remain limited [1] - The price increase is primarily due to polysilicon companies operating at a loss for over a year, leading to a need to clear inventory and comply with pricing regulations that require sales to be above comprehensive costs [1] Market Dynamics - Despite the price hikes, wafer companies are still adopting a wait-and-see approach, resulting in a lack of large-scale acceptance of price increases in the short term [1] - Although new orders are scarce, the execution of previously signed orders has strengthened due to price increase expectations, contrasting sharply with previous frequent order cancellations [1] - The polysilicon market appears to be stabilizing after hitting a bottom, indicating a potential recovery trend [1]

Core Viewpoint - The polysilicon market shows signs of recovery with slight price increases, driven by stable production levels and government measures to control competition and support the industry [2][3]. Price Trends - The transaction price range for n-type polysilicon is between 34,000 to 38,000 yuan per ton, with an average price of 34,700 yuan per ton, reflecting a slight week-on-week increase of 0.87% [1]. - The average transaction price for n-type granular silicon remains stable at 33,500 yuan per ton [1]. Market Dynamics - The polysilicon market has seen a slight recovery, with some previously delayed orders being renegotiated at higher prices, despite most companies not securing significant new orders [2]. - The average price of polysilicon has been below the industry average cost for over a year, leading to the shutdown of four companies in the first half of this year and a total of nine since the beginning of 2024 [2]. Production and Supply - As of this week, the number of operating polysilicon companies in China has decreased to nine, with two additional companies recently ceasing operations without clear plans for resumption [3]. - Domestic polysilicon production in June was approximately 102,000 tons, remaining stable and matching demand, with a total production of about 596,000 tons in the first half of the year, a year-on-year decrease of 44.1% [3]. Future Outlook - The forecast for global polysilicon demand in 2025 is around 1.4 million tons, with domestic demand expected to be approximately 1.3 million tons [3]. - Without production increases from domestic polysilicon companies, the total output for the year is expected to be around 1.2 million tons, with inventory consumption of about 100,000 tons in the second half of the year [3]. - The industry must control capacity increases and push for the exit of outdated production capacities to fundamentally resolve supply-demand conflicts and stabilize prices across the photovoltaic industry chain [3].