智通财经APP获悉，据安泰科统计，本周多晶硅市场延续供需双弱格局，预计短期内市场将继续维持弱 势平稳的运行态势。本周多晶硅n型复投料成交价格区间为4.9-5.5万元/吨，成交均价为5.32万元/吨，环 比持平。n型颗粒硅成交价格区间为5.0-5.1万元/吨，成交均价为5.05万元/吨，环比持平。 本周多晶硅市场延续供需双弱格局。下游硅片环节减产仍在持续，对多晶硅采购需求相应减弱，但市场 价格整体表现较为坚挺。从成交情况看，主流签单企业数量维持在4-5家。其中棒状硅签单量环比有所 减少，而颗粒硅因其持续提升的品质认可度和成本经济性，签单情况相对更具韧性，成为支撑市场活跃 度的关键因素。 | 参与价格统计企业名单: | | | --- | --- | | 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 | | 数据来源:安泰科 各产品定义如下: n型复投料:能够用于下游生产n型单晶硅的复投料 ...

新华财经北京11月19日电 中国有色金属工业协会硅业分会19日发布的最新周报显示，据安泰科统计， 本周（截至11月19日当周）多晶硅n型复投料成交价格区间为4.9-5.5万元／吨，成交均价为5.32万元／ 吨，环比持平。n型颗粒硅成交价格区间为5.0-5.1万元／吨，成交均价为5.05万元／吨，环比持平。 安泰科在周报中具体表示，本周国内多晶硅市场继续呈现弱稳态势。尽管下游硅片、电池片价格均出现 不同程度下滑，且部分硅片企业已开始逐步减产以应对需求疲软，但多晶硅实际成交价仍维持稳定。主 流签单企业数量保持在5家左右，市场成交活跃度与前期基本相当。本周价格持稳主要有两方面原因： 一方面，供应端收缩有效对冲了需求走弱的影响。西南地区受枯水期等因素制约，部分企业已大幅减产 甚至停产，预期11月国内多晶硅产量将降至12万吨以内，环比降幅约14%，一定程度上缓解了供应压 力。另一方面，产业链上下游形成隐性共识。在当前相对脆弱的市场环境下，多晶硅价格下跌非但不能 有效刺激需求，反而会破坏7月以来逐步建立的企稳预期，甚至可能引发整个产业链价格体系崩盘。因 此，多晶硅企业的稳价意愿十分坚决。 编辑：吴郑思 根据企业排产计划， ...

国内太阳能级多晶硅价格(2025.11.19) 数据来源:安泰科 | 国内太阳能级多晶硅成交价 产品 | 最高价 | 最低价 | 相比 | 波动 | 波动% | | --- | --- | --- | --- | --- | --- | | n型复投料成交价 | 5.50 | 4.90 | 5.32 | 0.00 | 0.00% | | n型致密料成交价 | 5.20 | 4.70 | 4.97 | 0.00 | 0.00% | | p型多晶硅成交价 | | | | | | | n型颗粒硅成交价 | 5.10 | 5.00 | 5.05 | 0.00 | 0.00% | | 单位:万元/吨 | | | | 更新日期: | 2025-11-19 | 智通财经APP获悉，据安泰科统计，本周多晶硅n型复投料成交价格区间为4.9-5.5万元/吨，成交均价为 5.32万元/吨，环比持平。n型颗粒硅成交价格区间为5.0-5.1万元/吨，成交均价为5.05万元/吨，环比持 平。硅业分会表示，本周国内多晶硅市场继续呈现弱稳态势。尽管下游硅片、电池片价格均出现不同程 度下滑，且部分硅片企业已开始逐步减产以应对需求疲软，但多晶硅 ...

本周国内多晶硅市场继续呈现弱稳态势 。 尽管下游硅片、电池片价格均出现不 同程度下滑，且 部分 硅片企业已开始逐步减产以应对需求疲软，但多晶硅实际成交 价 仍 维持稳定 。 主流签单企业数量保持在 5 家左右，市场成交活跃度与前期基本 相当。 本周 价格持稳主要 有两方面原因：一方面，供应端收缩有效对冲了需求走弱 的影响。西南地区受枯水期等因素制约，部分企业已大幅减产甚至停产，预期 11月 国内多晶硅产量将降至12万吨以内，环比 降幅约 14% ，一定程度上缓解了供应压 力。另一方 面，产业链上下游形成隐性共识 。 在 当前相对 脆弱的市场环境下，多 晶硅价格下跌非但不能有效刺激需求，反而 会 破坏 7月以来逐步建立的企稳预期 ， 甚至 可能引发整个产业链价格体系 崩盘。 因此， 多晶硅 企业 的 稳价意愿十分坚 决。 根据企业排产计划， 12月多晶硅产量预计仍将维持在12万吨左右，全年总产量约 133万吨，同比降幅27.8%。尽管近期 下游减产 将削弱 对多晶硅的 短期 需求，但在 供应已同步 收紧、 社会库存本已高企的背景下， 上下游企业 对于供需变化 的 容忍 度较高。综合 判断 ，当前多晶硅 市场需求 ...

新能源及有色金属日报 | 2025-11-18 消费表现一般，多晶硅工业硅盘面宽幅震荡 工业硅： 市场分析 2025-11-17，工业硅期货价格震荡运行，主力合约2601开于9025元/吨，最后收于9080元/吨，较前一日结算变化（60） 元/吨，变化（0.67）%。截止收盘，2511主力合约持仓251549手，2025-11-17仓单总数为44022手，较前一日变化-1323 手。 供应端：工业硅现货价格持稳。据SMM数据，昨日华东通氧553#硅在9400-9600（0）元/吨；421#硅在9700-9800 （0）元/吨，新疆通氧553价格8800-8900（0）元/吨，99硅价格在8800-8900（0）元/吨。昆明、黄埔港、西北、天 津、新疆、四川、上海地区硅价持平，97硅价格持稳。 SMM统计11月13日工业硅主要地区社会库存共计54.6万吨，较上周减少0.6万吨。其中社会普通仓库12.7万吨，较 上周持平，社会交割仓库41.9万吨（含未注册成仓单及现货库部分），较上周减少0.6万吨。（（不含内蒙、宁夏、甘 肃等地）。本周统计地区的社会库存变化，以天津及广州地区成交货物出库较为活跃，其他地区仓库库存 ...

Group 1 - The domestic futures market for non-ferrous metals showed a strong performance, with polysilicon futures rising significantly by 3.86% to 54,280.0 CNY/ton [1] - The transaction price range for n-type polysilicon was reported between 49,000 to 55,000 CNY/ton, with an average price of 53,200 CNY/ton, remaining stable week-on-week [1] - Production in October was 137,000 tons, with expectations of a reduction in the southwestern region in November, projecting a monthly output of around 120,000 tons [1] Group 2 - The market sentiment for polysilicon futures is influenced by marginal changes in photovoltaic capacity control expectations, leading to a rebound above 53,000 CNY/ton [2] - The supply and demand dynamics are characterized by weakness on both sides, with seasonal production cuts expected in the southwestern region and simultaneous reductions in silicon wafer and module production [2] - High inventory levels of polysilicon are limiting price declines, suggesting that prices will likely remain in a fluctuating pattern in the short term [2]

Core Insights - The domestic polysilicon market is experiencing a weak and stable trend, with slight increases in transaction activity and a stable pricing environment due to supply-side production cuts and supportive policies [1][2]. Group 1: Pricing Trends - The transaction price range for n-type reprocessed material is between 49,000 to 55,000 yuan/ton, with an average price of 53,200 yuan/ton, remaining flat week-on-week [1]. - The transaction price range for n-type granular silicon is between 50,000 to 51,000 yuan/ton, with an average price of 50,500 yuan/ton, also remaining flat week-on-week [1]. - The overall polysilicon market is still in a state of oversupply despite the supply contraction, with high industry inventory and weak end-user demand limiting price increases [2]. Group 2: Supply Dynamics - Currently, there are 11 domestic polysilicon producers, with two major companies expected to reduce production and undergo maintenance, leading to a significant estimated decrease in total output by 12.4% month-on-month [2]. - The production plan for domestic polysilicon in November is expected to drop below 120,000 tons, primarily due to rising electricity costs during the dry season in the southwestern region [1]. Group 3: Policy Developments - The new national standard for energy consumption limits for polysilicon and germanium products is in the consultation phase, which is expected to promote capacity clearance and industry upgrades once officially implemented [1].

Group 1 - The core viewpoint of the article indicates that the domestic polysilicon market is maintaining a weak and stable trend, with slight recovery in transaction activity and stable prices due to supply-side production reduction expectations and policy support [1][2]. - The average transaction price for n-type reprocessed material is 53,200 yuan/ton, while n-type granular silicon is at 50,500 yuan/ton, both showing no change compared to the previous week [1][3]. - The total production of polysilicon in November is expected to drop to below 120,000 tons, primarily due to increased electricity costs during the dry season in the southwestern region [1][2]. Group 2 - Currently, there are 11 domestic polysilicon producers, with two major companies expected to reduce production and undergo maintenance, leading to a significant decrease in total supply by approximately 12.4% [2]. - Despite the supply contraction, the polysilicon market remains in a state of oversupply, with high industry inventory and weak end-user demand limiting price increases [2]. - The new national standard for energy consumption limits for silicon and germanium products is in the consultation phase, which is anticipated to drive capacity clearance and industry upgrades once implemented [1].

Report Industry Investment Rating No relevant information provided. Core Viewpoints - The overall sentiment in the commodity market is weak, leading to a decline in the industrial silicon and polysilicon futures markets. For industrial silicon, the current low valuation may present an opportunity for price increases if relevant policies are introduced. For polysilicon, the market is affected by anti - involution policies and weak reality, with limited upside potential and expected to remain in a wide - range oscillation [3][7]. Summary by Related Content Industrial Silicon Market Analysis - On November 4, 2025, the industrial silicon futures price dropped. The main contract 2601 opened at 9,130 yuan/ton and closed at 8,885 yuan/ton, a change of - 210 yuan/ton (- 2.31%) from the previous settlement. The position of the 2511 main contract was 242,153 lots at the close, and the total number of warehouse receipts was 45,823 lots, a decrease of 338 lots from the previous day [1]. - The spot price of industrial silicon remained stable. In November, the supply is expected to increase as some maintenance devices resume production, while demand shows no significant change, resulting in an oversupply situation. Although the cost of industrial silicon has been oscillating slightly upward recently, it can only provide short - term support for the price of DMC and cannot drive a substantial price rebound [1][2]. - In October 2025, China's industrial silicon production was 452,200 tons, a month - on - month increase of 31,400 tons (7.5%) and a year - on - year decrease of 17,600 tons (4%). From January to October 2025, the cumulative production of industrial silicon was 3.4699 million tons, a year - on - year decrease of 16.6% [1]. Strategy - The intraday correction was mainly affected by the overall commodity sentiment. Production cuts started in the southwest at the end of October, and the supply - demand pattern may improve. The industrial silicon futures market is currently oscillating based on the overall commodity sentiment and policy news. If relevant policies on capacity exit are introduced, there may be room for price increases. Short - term interval trading is recommended, and long positions can be taken at low prices for contracts during the dry season [3]. Polysilicon Market Analysis - On November 4, 2025, the main contract 2601 of polysilicon futures declined, opening at 56,000 yuan/ton and closing at 53,715 yuan/ton, a 3.91% decrease from the previous trading day. The position of the main contract was 128,876 lots (143,844 lots the previous day), and the trading volume was 274,348 lots [4]. - The spot price of polysilicon weakened slightly. The inventory of polysilicon manufacturers and silicon wafers increased. The latest statistics show that the polysilicon inventory was 261,000 tons, a month - on - month increase of 1.16%, and the silicon wafer inventory was 18.93GW, a month - on - month increase of 2.49%. The weekly production of polysilicon was 28,200 tons, a month - on - month decrease of 4.41%, and the silicon wafer production was 14.24GW, a month - on - month decrease of 3.32%. In October, the polysilicon production was about 133,500 tons, an increase from September, exceeding market expectations. In November, production in the southwest region will be significantly reduced, and production is expected to decline [4][5]. Strategy - The supply - demand fundamentals of polysilicon are average, with significant inventory pressure. Both supply and demand may decrease starting in November. The futures market is affected by anti - involution policies and weak market reality. Policy implementation and the downward transmission of spot prices need to be continuously monitored. It is expected that relevant policies will be introduced this year. Without significant improvement in consumer demand, the upside potential of the futures market is limited, and it is expected to remain in a wide - range oscillation. Short - term interval trading is recommended, and the 12 - contract is expected to oscillate between 50,000 and 57,000 yuan/ton [7].

多晶硅日报 油） 021-60635738 lijie@ccb.ccbfutures.com 期货从业资格号：F3031215 021-60635737 renjunchi@ccb.ccbfutures.com 期货从业资格号：F3037892 硅）028-8663 0631 penghaozhou@ccb.ccbfutures.com 期货从业资格号：F3065843 021-60635740 pengjinglin@ccb.ccbfutures.com 期货从业资格号：F3075681 021-60635570 liuyouran@ccb.ccbfutures.com 期货从业资格号：F03094925 研究员：冯泽仁（玻璃纯碱） 021-60635727 fengzeren@ccb.ccbfutures.com 行业 一、行情回顾与展望 日期 2025 年 11 月 05 日 能源化工研究团队 研究员：李捷,CFA（原油燃料 研究员：任俊弛（PTA/MEG） 研究员：彭浩洲（工业硅/多晶 研究员：彭婧霖（聚烯烃） 研究员：刘悠然（纸浆） 期货从业资格号：F03134307 请阅读正文后的声明 每日报告 ...