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 ...

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].

Core Insights - The current market for polysilicon remains oversupplied, with prices stabilizing due to weak demand and limited supply adjustments [1][2] Price Trends - The transaction price range for n-type recycled polysilicon is between 49,000 to 55,000 CNY/ton, with an average price of 53,200 CNY/ton, showing no change from the previous period [1] - The average price for n-type granular silicon is 50,500 CNY/ton, also remaining stable [1] - The average price for n-type dense silicon is 49,700 CNY/ton, with no fluctuations reported [3] Supply and Demand Dynamics - The domestic polysilicon market is experiencing low activity, with only 3-4 main signing companies and a decrease in order scale [1] - The monthly production of polysilicon is expected to rise to approximately 130,000 tons in Q4, an increase of 8.3% month-on-month, but many companies are nearing saturation in order intake [1][2] - In October, domestic polysilicon production reached about 137,000 tons, a month-on-month increase of 6.2%, exceeding expectations by 5.4% [1] Future Outlook - Production plans for major manufacturers in the Southwest region indicate significant reductions in output for November and December, with total monthly production expected to drop to 125,000 to 130,000 tons [2] - Despite stable downstream operating rates, the inventory accumulation of polysilicon is anticipated to slow down in the last two months of the year, yet the industry inventory is likely to exceed 400,000 tons by the end of 2025 [2]

Core Insights - The multi-crystalline silicon market is currently experiencing a critical period of industrial restructuring, with supply significantly contracting year-on-year, yet inventory is slightly accumulating, indicating relatively weak terminal demand [1] - The average transaction price for n-type recycled material is stable at 53,200 CNY/ton, while n-type granular silicon averages 50,500 CNY/ton, both showing no change compared to the previous period [1][3] - The number of mainstream signing enterprises in the multi-crystalline silicon market has increased to 5-6, but overall market transactions remain relatively light, with demand expectations for Q4 photovoltaic installations being weak [1][2] Supply and Demand Analysis - The number of operating multi-crystalline silicon enterprises remains at 11, with production expected to peak in October at approximately 382,000 tons, a slight year-on-year increase of 3.0% [2] - In Q4, domestic multi-crystalline silicon production is projected to decrease gradually after November due to maintenance and reduced production in the southwestern region [2] - By 2025, the annual domestic multi-crystalline silicon production is expected to be around 1.34 million tons, a significant year-on-year decrease of 27.3%, indicating a slight oversupply compared to demand [2] Price Trends - The price range for n-type recycled material is between 49,000 and 55,000 CNY/ton, with the highest price at 55,000 CNY/ton and the lowest at 49,000 CNY/ton, reflecting no price fluctuation [3] - The price for n-type granular silicon is stable, with a range of 50,000 to 51,000 CNY/ton, maintaining an average of 50,500 CNY/ton [3] - The pricing data is based on weighted averages from nine multi-crystalline silicon production enterprises, which account for 89.3% of the domestic total production in Q3 2025 [3][4]

Core Viewpoint - The domestic polysilicon market is experiencing a slowdown in transactions, with a decrease in order volume and a stable pricing environment due to stable production rates and inventory levels among silicon wafer manufacturers [1][2]. Group 1: Market Transactions - The overall transaction volume in the domestic polysilicon market has decreased, with the number of main signing companies reduced to 2-3 [1]. - The average transaction price for n-type recycled polysilicon remains stable at 53,200 CNY/ton, while n-type granular silicon averages 50,500 CNY/ton, both showing no change from the previous period [1][3]. Group 2: Production and Consumption - In September, domestic polysilicon production reached approximately 129,000 tons, a month-on-month increase of 5.3%, while consumption was about 116,000 tons, up 3.4% [2]. - Cumulatively, from January to September 2025, domestic polysilicon production totaled 956,000 tons, a year-on-year decrease of 35.1%, with consumption at approximately 964,000 tons, down 20.1% [2]. Group 3: Price Statistics - The highest and lowest prices for n-type recycled polysilicon are 55,000 CNY/ton and 49,000 CNY/ton, respectively, with an average price of 53,200 CNY/ton showing no fluctuation [3]. - The price statistics are based on data from nine polysilicon production companies, which account for 89.3% of the total domestic production in the third quarter of 2025 [3][4].

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 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]

Core Viewpoint - The price of polysilicon continues to rise due to supply-demand dynamics and regulatory support in the photovoltaic industry [2] Price Trends - The transaction price range for n-type polysilicon is between 45,000 to 52,000 CNY/ton, with an average price of 47,900 CNY/ton, reflecting a week-on-week increase of 1.05% [1] - The transaction price range for n-type granular silicon is between 45,000 to 47,000 CNY/ton, with an average price of 46,000 CNY/ton, showing a week-on-week increase of 3.37% [1] - The number of companies signing contracts for polysilicon this week is six, indicating a stable yet rising market price [1] Market Dynamics - The price increase is supported by a joint meeting of six ministries aimed at regulating competition in the photovoltaic industry, signaling a commitment to avoid excessive competition [2] - Polysilicon companies are implementing production and sales restrictions, alleviating market pressure on supply and demand [2] - Major polysilicon producers are reducing production, which is expected to increase overall costs and lead to higher market prices due to regulatory constraints [2] Production and Inventory - The number of polysilicon producers remains at nine, with an expected production of approximately 125,000 tons in August [2] - If production and sales restrictions are effectively implemented in September, monthly output is expected to remain stable, but the current oversupply situation has not improved significantly [2] - Industry inventory is projected to continue accumulating, with an estimated increase of about 20,000 tons from August to September [2] Price Statistics - The highest and lowest transaction prices for n-type polysilicon are 52,000 CNY/ton and 45,000 CNY/ton, respectively, with an average price of 47,900 CNY/ton [3] - The price fluctuations for n-type granular silicon show a highest price of 47,000 CNY/ton and a lowest price of 45,000 CNY/ton, with an average price increase of 3.37% [3] Participating Companies - The companies involved in the price statistics include Sichuan Yongxiang Co., Ltd., GCL-Poly Energy Holdings Limited, and Xinjiang Goin Technology Co., Ltd., among others [4]

Group 1: Report Information - Report Date: June 13, 2025 [2] Group 2: Market Performance and Outlook - Market Performance: The main contract of polysilicon weakened again. The closing price of PS2507 was 33,585 yuan/ton, a decline of 1.39%. The trading volume was 65,591 lots, and the open interest was 61,695 lots, with a net increase of 1,499 lots [4] - Future Outlook: After the end of the terminal rush installation and with policies in a vacuum period, the weak spot price limits the rebound space. The weekly output in the first week of June is expected to remain at 22,000 tons, and the monthly output is expected to be around 100,000 tons. The potential supply pressure in the far - month is alleviated as the production increase during the wet season is difficult to materialize. A meeting at the end of June may discuss further production cuts to support the current futures and spot prices. The weak reality is mainly reflected in the end of the "rush installation" in the downstream photovoltaic terminal, with a significant decline in monthly demand both year - on - year and month - on - month. The market will mainly oscillate weakly at a low level [4] Group 3: Market News - Warehouse Receipts: As of June 11, the number of polysilicon warehouse receipts was 2,600 lots, with a net increase of 120 lots compared to the previous trading day [5] - Transaction Prices: The transaction price range of n - type re -投料 was 36,000 - 38,000 yuan/ton, with an average transaction price of 37,500 yuan/ton, unchanged from the previous period. The transaction price range of n - type granular silicon was 34,000 - 35,000 yuan/ton, with an average transaction price of 34,500 yuan/ton, unchanged from the previous period. The transaction price range of p - type polysilicon was 30,000 - 33,000 yuan/ton, with an average transaction price of 31,300 yuan/ton, unchanged from the previous period [5] - Industry Conference: The China Non - Ferrous Metals Industry Association will hold the "2025 China (Leshan) Silicon Industry Chain Development Conference" in Leshan, Sichuan Province from June 24 - 26 [5] - Project News: Dacheng New Energy's Anji Intelligent Manufacturing Base Project is expected to be completed and put into operation at the end of June. The project has a total investment of 4.7 billion yuan and plans to build a 4.8GW high - efficiency heterojunction battery + 7.2GW battery module fully automated intelligent production line in two phases [5]

Group 1 - The core viewpoint of the articles indicates that the prices of various types of polysilicon remain stable despite limited order transactions following the holiday period [1][2] - The transaction price range for n-type re-investment materials is between 36,000 to 38,000 yuan per ton, with an average transaction price of 37,500 yuan per ton, unchanged from the previous period [1] - The transaction price range for n-type granular silicon is between 34,000 to 35,000 yuan per ton, with an average transaction price of 34,500 yuan per ton, also unchanged from the previous period [1] - The transaction price range for p-type polysilicon is between 30,000 to 33,000 yuan per ton, with an average transaction price of 31,300 yuan per ton, remaining stable compared to the previous period [1] - Due to the Dragon Boat Festival holiday, most orders have not yet been finalized, with only 3-4 companies signing new orders, indicating a temporary stability in prices [1] - There is still a certain demand for silicon material procurement from downstream, and the price will depend on the new round of orders, with limited expected decline [1] - The end of the terminal rush installation has occurred, and downstream crystal pulling plants are still exerting strong pressure on silicon material prices, making it difficult for companies to maintain price levels [1] - If prices decline further, more companies are expected to accelerate production halts and maintenance strategies to cope with extreme market conditions [1] Group 2 - As of now, there are 11 polysilicon production companies, all operating at reduced capacity [2] - In May 2025, China's polysilicon production is projected to be 101,600 tons, reflecting a 2.52% increase compared to the previous period [2] - This month, polysilicon companies will undergo capacity replacement, which may lead to a slight increase in production at some bases, while overall supply is expected to remain stable [2] - It is anticipated that the monthly supply will gradually begin to decline in the third quarter, leading to a gradual easing of supply-demand relations and potential for a phase of market recovery [2]