Core Viewpoint - The domestic polysilicon market has seen a decrease in order activity this week, with a reduction in the number of main signing companies to four, indicating a potential stabilization in the market [1]. Group 1: Market Activity - The signing volume of polysilicon has decreased week-on-week, reflecting a slowdown in market activity [1]. - The number of active polysilicon producers remains at ten, with an overall low operating rate, suggesting stable supply conditions [1]. Group 2: Pricing Trends - The transaction price range for n-type recycled material is between 49,000 to 55,000 yuan/ton, with an average price of 53,200 yuan/ton, remaining stable compared to the previous week [2]. - The transaction price for n-type granular silicon has increased by 2.02%, with an average price of 50,500 yuan/ton [2]. - The price of rod silicon has remained stable, while granular silicon prices have seen a slight increase of 1 yuan/kg, indicating a divergence in price trends between the two products [1]. Group 3: Supply and Demand Dynamics - Upstream supply continues to exceed downstream demand, leading to inventory pressure across various segments, and prices from batteries to components have not met expectations [1]. - Some downstream users of granular silicon are extending their delivery periods to ensure stable supply, reflecting a strategic move to lock in resources [1].

Core Viewpoint - The domestic polysilicon market is experiencing a price increase due to tight supply and optimistic market sentiment influenced by national policies [1][2]. Price Trends - The transaction price range for n-type re-investment material is between 51,000 to 55,000 yuan/ton, with an average price of 53,200 yuan/ton, reflecting an increase of 8.57% week-on-week [1][3]. - The transaction price range for n-type granular silicon is between 49,000 to 50,000 yuan/ton, with an average price of 49,500 yuan/ton, showing a week-on-week increase of 3.13% [1][3]. Market Dynamics - The number of main signing enterprises in the domestic polysilicon market has increased to six, while the signing volume remains stable compared to the previous week [1]. - A supply tightness is observed as first-tier enterprises have reached their sales limits, leading to second-tier enterprises starting to sign contracts [1][2]. Production Capacity and Standards - The number of operating polysilicon enterprises in China remains at ten, with one enterprise expected to resume normal production in early October [2]. - New mandatory national standards on energy consumption for polysilicon production will lead to a reduction in effective domestic polysilicon capacity to approximately 2.4 million tons/year, a decrease of 16.4% compared to the end of 2024 [2].

Group 1 - The core viewpoint of the news indicates that the domestic polysilicon market is experiencing a price increase, with n-type re-investment material prices rising by 8.57% week-on-week, and n-type granular silicon prices increasing by 3.13% [1][2]. - The transaction price range for n-type re-investment material is reported to be between 51,000 to 55,000 yuan per ton, with an average transaction price of 53,200 yuan per ton [1][3]. - The number of domestic polysilicon producers remains at 10, with one company expected to resume normal production in early October after maintenance [2]. Group 2 - A new mandatory national standard regarding energy consumption limits for polysilicon and germanium products has been released, which will enforce stricter energy consumption requirements for polysilicon producers [2]. - Following the implementation of the new energy consumption standards, the effective production capacity of domestic polysilicon is projected to decrease to approximately 2.4 million tons per year, a reduction of 16.4% compared to the end of 2024 [2]. - The market sentiment is optimistic due to the anticipated tightening of supply and the impact of national industrial policies, which is expected to support polysilicon prices [1][2].

Group 1 - The core viewpoint of the article highlights the upward trend in the prices of polysilicon, particularly n-type materials, driven by supply constraints and optimistic market sentiment due to recent policy impacts [1][2]. - The transaction price range for n-type re-investment materials is between 51,000 to 55,000 yuan/ton, with an average price of 53,200 yuan/ton, reflecting an increase of 8.57% week-on-week [1]. - The transaction price for n-type granular silicon is between 49,000 to 50,000 yuan/ton, with an average price of 49,500 yuan/ton, showing a week-on-week increase of 3.13% [1]. Group 2 - The number of domestic polysilicon producers remains at 10, with one company expected to resume normal production in early October after maintenance [2]. - A new mandatory national standard regarding energy consumption for polysilicon production has been released, which, once implemented, will require companies to meet specific energy consumption benchmarks or face shutdowns [2]. - Following the implementation of the new energy consumption standards, the effective production capacity of domestic polysilicon is projected to decrease to approximately 2.4 million tons per year, a reduction of 16.4% compared to the end of 2024, and a 31.4% decrease compared to existing installed capacity [2]. Group 3 - The highest and lowest transaction prices for n-type re-investment materials are 55,000 and 51,000 yuan/ton respectively, with an average price of 53,200 yuan/ton, indicating a price fluctuation of 0.42 and an increase of 8.57% [3]. - The n-type dense material transaction price has a highest price of 52,000 yuan/ton and a lowest price of 48,000 yuan/ton, with an average price of 49,700 yuan/ton, reflecting a fluctuation of 0.40 and an increase of 8.75% [3]. - The transaction price for n-type granular silicon shows a fluctuation of 0.15 with a week-on-week increase of 3.13% [3]. Group 4 - The list of companies participating in the price statistics includes major players such as Sichuan Yongxiang Co., Ltd., GCL-Poly Energy Holdings Limited, and Xinjiang Goin's Energy Technology Co., Ltd. [4].

Core Viewpoint - The article provides an overview of the recent pricing trends in the domestic solar-grade polysilicon market, highlighting the price fluctuations of various types of polysilicon products as of September 3, 2025 [1]. Pricing Summary - The transaction price for n-type re-investment material is reported at a maximum of 5.20 million yuan per ton, a minimum of 4.70 million yuan per ton, and an average of 4.90 million yuan per ton, with a fluctuation of +0.11 million yuan and a percentage change of +2.30% [1]. - The transaction price for n-type dense material shows a maximum of 4.90 million yuan per ton, a minimum of 4.40 million yuan per ton, and an average of 4.57 million yuan per ton, with a fluctuation of +0.12 million yuan and a percentage change of +2.70% [1]. - The transaction price for n-type granular silicon is recorded at a maximum of 4.90 million yuan per ton, a minimum of 4.70 million yuan per ton, and an average of 4.80 million yuan per ton, with a fluctuation of +0.10 million yuan and a percentage change of +2.13% [1]. Participating Companies - The article lists several companies involved in the pricing statistics, including Sichuan Yongxiang Co., Ltd., GCL-Poly Energy Holdings Limited, Xinte Energy Co., Ltd., Dongfang Hope Group Co., Ltd., Asia Silicon Industry (Qinghai) Co., Ltd., Qinghai Lihua Qingneng Co., Ltd., Xinjiang Gones Energy Technology Co., Ltd., and Xinjiang Jinnuo New Energy Industry Development Co., Ltd. [2].

Market Performance - The main contract price of polysilicon has significantly decreased, with the PS2511 closing at 48,690 CNY/ton, down 4.13%, with a trading volume of 502,410 lots and an open interest of 154,537 lots, reflecting a net increase of 17,059 lots [1] Future Outlook - The transaction price range for n-type polysilicon is expected to be between 45,000 to 52,000 CNY/ton, with an average transaction price of 47,900 CNY/ton, showing a week-on-week increase of 1.05% [1] - Polysilicon production is projected to rise to 125,000 tons in August, but will enter a production limit and sales control phase in September. Downstream inventory replenishment is expected to buffer the pressure from declining terminal demand [1] - In July, the newly installed photovoltaic capacity in China was only 11 GW, indicating that domestic demand remains weak following the "rush installation" phase in the first half of the year [1] - Price rigidity is providing support for the market, but the policy-driven phase is entering a rational stage, with a decrease in risk appetite due to a policy vacuum and continuous increase in warehouse receipts, leading to wide fluctuations in the market [1] Risk Factors - The implementation of anti-involution policies has exceeded expectations, leading to a greater-than-expected reduction in polysilicon production [2] - As of August 27, the number of polysilicon warehouse receipts was 6,880 lots, with a net increase of 10 lots compared to the previous trading day [2] - Data indicates that from January to July 2025, the cumulative installed photovoltaic capacity reached 1,109.6 GW, with a new installed capacity of 223.25 GW during the same period. The newly installed capacity in July was only 11 GW, a year-on-year decrease of 47.7%, marking a new low for 2025 [2]

Core Viewpoint - The multi-crystalline silicon market in China remains stable with slight price fluctuations, driven by supply-demand dynamics and production adjustments by manufacturers [1][2]. Price Summary - The transaction price range for n-type re-investment material is between 46,000 to 51,000 yuan/ton, with an average price of 47,900 yuan/ton, remaining unchanged week-on-week [1]. - The average transaction price for n-type granular silicon is 47,000 yuan/ton, reflecting a week-on-week increase of 2.17% [1][2]. - The main order prices for rod silicon remain stable, while smaller orders and granular silicon prices have increased by 1 yuan/kg [1]. Market Dynamics - The number of main signing enterprises in the multi-crystalline silicon market has decreased to 3-4, indicating a reduction in market activity [1]. - One new silicon material enterprise has resumed production, bringing the total number of operating multi-crystalline silicon enterprises in China to 10 [1]. - Companies are independently reducing production and controlling sales, while downstream demand for inventory has increased, contributing to a bullish sentiment in the industry [1]. Production Outlook - The expected production volume for September is around 125,000 to 130,000 tons, down from the original planned production of 140,000 tons [1]. - Silicon wafer enterprises plan to reduce their operating rates to alleviate supply-demand pressure in the silicon wafer segment [1]. - The multi-crystalline silicon segment continues to face inventory accumulation risks, indicating that the supply-demand fundamentals have not significantly improved [1].

Core Insights - The price range for n-type polysilicon recycled materials is between 46,000 to 51,000 CNY per ton, with an average price of 47,900 CNY per ton, remaining stable week-on-week [1] - The average transaction price for n-type granular silicon has increased by 2.17% week-on-week to 47,000 CNY per ton [1] - The number of main signing enterprises in the polysilicon market has decreased to 3-4, indicating a reduction in market activity [1] Price Trends - The price of n-type recycled materials is stable, while n-type granular silicon prices have seen a slight increase [2] - The average price for n-type recycled materials is 47,900 CNY per ton, with no fluctuation [2] - The average price for n-type granular silicon is 47,000 CNY per ton, reflecting a 0.10 CNY increase [2] Market Dynamics - There has been a reduction in the signing volume of polysilicon, with some downstream companies extending their delivery periods to October to secure supply [1] - The market sentiment remains optimistic due to self-reduction in production by companies and increased stocking demand from downstream [1] - The total production of polysilicon in September is expected to be around 125,000 to 130,000 tons, down from the original plan of 140,000 tons [1] Industry Participants - The price statistics are based on data from nine polysilicon production companies, which account for 87% of domestic production [2][3] - The companies involved include Sichuan Yongxiang Co., Ltd., GCL-Poly Energy Holdings Limited, and Xinjiang Goin Technology Co., Ltd., among others [3]

Core Viewpoint - The multi-crystalline silicon market remains stable with slight price fluctuations, while supply and demand fundamentals have not significantly improved, leading to a reliance on market expectations for price increases [1]. Price Summary - The transaction price range for n-type re-investment materials is between 46,000 to 51,000 yuan/ton, with an average transaction price of 47,900 yuan/ton, remaining flat week-on-week [1][2]. - The average transaction price for n-type granular silicon is 47,000 yuan/ton, reflecting a week-on-week increase of 2.17% [1][2]. - The main order prices for rod silicon remain stable, while other small orders and granular silicon prices have increased by 1 yuan per kilogram [1]. Market Dynamics - The number of main signing enterprises in the multi-crystalline silicon market has decreased to 3-4, indicating a reduction in market activity [1]. - One new silicon material enterprise has resumed production, bringing the total number of operating multi-crystalline silicon enterprises in China to 10 [1]. - Companies are implementing self-reduction in production and controlling sales, while downstream demand for inventory has increased, contributing to a bullish sentiment in the industry [1]. Production and Supply Outlook - The expected production volume for September is around 125,000 to 130,000 tons, down from an original planned production of 140,000 tons [1]. - Silicon wafer companies are also planning to reduce their operating rates to alleviate supply-demand pressure in the silicon wafer segment [1]. - The multi-crystalline silicon sector continues to face inventory accumulation risks, indicating that the supply-demand fundamentals have not yet formed substantial improvement [1].

Core Viewpoint - The recent increase in polysilicon prices in China is driven by regulatory support for the photovoltaic industry and coordinated production cuts by polysilicon manufacturers [1] Price Summary - The transaction price range for n-type re-investment polysilicon is between 45,000 to 52,000 yuan per ton, with an average transaction price of 47,900 yuan per ton, reflecting a week-on-week increase of 1.05% [1][2] - The transaction price range for n-type granular silicon is between 45,000 to 47,000 yuan per ton, with an average transaction price of 46,000 yuan per ton, showing a week-on-week increase of 3.37% [1][2] - The price data is based on nine polysilicon production companies, which account for 87% of domestic total production in Q2 2025, with n-type materials making up 91.3% of the total [2][3] Market Dynamics - The increase in polysilicon prices is attributed to a joint meeting by six ministries aimed at regulating competition in the photovoltaic industry, signaling a commitment to reduce internal competition [1] - Polysilicon manufacturers are implementing production cuts and sales restrictions, alleviating market pressure on supply and demand [1] - The production cuts are most significant among leading companies, resulting in reduced operating rates and increased overall costs, which are expected to drive prices higher [1] - The restriction on shipments of silicon materials has further tightened supply, leading to increased purchasing demand from downstream buyers who are motivated by expectations of rising prices [1]