Regarding prices, the polysilicon sector shows similar trends this week, with buyers and sellers remaining at a stalemate. Fewer deliveries this week result in minimal price fluctuations. Mainstream prices for China-made polysilicon chunks stay at RMB 36-42/kg, averaging RMB 40/kg, with Tier-1 makers’ prices approaching RMB 39-42/kg and Tier-2 and Tier-3’s low prices leaning toward RMB 36-38/kg. Prices for China-made granular polysilicon stay at RMB 36-37/kg, averaging RMB 36.5/kg, with minor inventory pressure.
On the supply-demand front, leading manufacturers adjust strategies in November, aiming primarily for price stability. With the arrival of the dry season, planned production in Sichuan and Yunnan see lower utilization rates. Meanwhile, with limited production ramp-ups from new capacity, total output for November may fall to 120,000-123,000 MT. The production-cut strategy can help stabilize prices; however, monitoring inventory depletion rates is essential. The utilization rate in the ingot sector has recently dropped to around 50%. Considering the typical pre-Chinese New Year stocking demand, faster inventory depletion for polysilicon will be likely. However, further declines in wafer utilization rates require observation. Thus, the ongoing negotiation dynamics between buyers and sellers remain a critical focus.
Spot inventories keep rising. Even with reduced utilization rates and production volumes, inventory levels remain high. Given more recent hot talks in the industry, rational caution is required as it’s challenging to discern truth from misinformation.
For non-China polysilicon, delivery prices mostly remain flat at USD 19-23/kg. However, recent US policy changes have reduced delivery volumes. In response, some non-China makers initiated maintenance early in October. Tracking further US policy developments is crucial.
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