This week, the polysilicon market remained relatively quiet, largely due to the National Day holiday, with most companies yet to engage in large-scale negotiations. New order volumes were limited, primarily focusing on fulfilling previously placed orders at lower prices. Overall prices have remained at pre-holiday levels.
| Material | Average Price (CNY/kg) | Average Price (USD/kg) | Weekly Change (%) |
|---|---|---|---|
| N-type polysilicon | 41.7 | 5.90 | 0.00 |
| N-type granular silicon | 37.3 | 5.28 | 0.00 |
| Mono recharge | 36.4 | 5.15 | 0.00 |
| Mono dense | 34.5 | 4.88 | 0.00 |
| Mono popcorn | 31.4 | 4.44 | 0.00 |
According to industry sources, most polysilicon manufacturers maintained normal production during the holiday. This week, the number of companies undergoing maintenance or reducing capacity has decreased to 13. Additionally, one company is expected to resume production this month, and another is in the process of ramping up capacity with a new project.
Data from the Silicon Industry shows that polysilicon production in September reached 138,000 tons, a 6.36% increase from the previous month. It is projected that October’s production will see a slight rise of about 5%. However, second- and third-tier polysilicon manufacturers continue to experience low utilization rates, with some even halting operations.
Meanwhile, delayed payments and overdue accounts are becoming more frequent, placing significant strain on the cash flow of some companies. With weak demand for terminal modules, there is limited room for short-term polysilicon price increases. Future price trends will depend on major manufacturers’ maintenance schedules in November and price negotiations during bulk order signings.
In the wafer market, prices remained stable this week. Due to substantial production cuts by leading companies, wafer output fell to 44.31 GW in September, a 15.76% drop from the previous month. Since wafer manufacturers announced price hikes in early September, a standoff between buyers and sellers has ensued, with some companies delaying shipments. As a result, wafer inventories have surged, nearing 50 billion units. With weak market demand, pricing is expected to remain stable in the short term.
In the cell market, prices also remained steady this week. As companies intensified production cuts, combined with holiday shutdowns at some cell factories, cell production has fallen below component demand, creating a disconnect. Data from Solarbe Consulting indicates that domestic cell production in October is about 48 GW, a notable decrease from September. Currently, cell manufacturers are attempting to raise prices, but with module prices still declining, the price negotiations between upstream and downstream players are expected to continue.
