This week, the polysilicon market entered a new order cycle, with some major orders successfully finalized. Due to leading companies’ strong price support, newly signed orders showed some price divergence. To a certain extent, the downstream market has gradually accepted the rising polysilicon prices. According to feedback from industry insiders, 14 companies are still undergoing maintenance or operating at reduced capacity.
| Material | Average Price (CNY/kg) | Average Price (USD/kg) | Weekly Change (%) |
|---|---|---|---|
| N-type polysilicon | 41.7 | 5.91 | 0.24 |
| N-type granular silicon | 37.3 | 5.28 | 0.00 |
| Mono recharge | 36.4 | 5.16 | 0.00 |
| Mono dense | 34.5 | 4.89 | 0.00 |
| Mono popcorn | 31.4 | 4.45 | 0.00 |
In September, apart from one company expected to add new production capacity, most companies’ maintenance progress has fallen short of expectations. With the upcoming National Day holiday and the start of the dry season, polysilicon supply in Q4 is expected to face further declines. In the short term, polysilicon prices are supported, but the potential for significant price increases remains limited.
In the wafer market, prices remained stable this week. The battery segment’s low acceptance of wafer price hikes has led to limited transactions recently, with buyers and sellers still in a standoff. September wafer production is expected to continue declining, with inventory levels around 50 billion pieces. Given the current supply and demand dynamics, further price increases for wafers will face significant challenges.
In the cell market, prices also remained stable this week. Notably, while upstream segments are generally raising prices, the cell segment is attempting to increase quotes to the module sector. However, end-market demand has shown no significant improvement, and some module tender prices continue to hit record lows. In the short term, cell price increases are unlikely, and the ongoing standoff between upstream and downstream segments is expected to continue.
