This week (11.6-10), the domestic polycrystalline silicon market continued to decline, with a slight slowdown in the decline. According to the Commodity Market Analysis System of the Business Society, polycrystalline silicon experienced a weekly decline of 2.78%. At present, the mainstream range of single crystal dense materials with a model of first grade solar energy has dropped to 60-70000 yuan/ton.

On the supply side, silicon material manufacturers have maintained a reasonable level of operation, gradually released new production capacity, achieved mass production, and domestic supply has steadily increased. The overall production of silicon materials this month has slightly increased compared to the previous month, while downstream silicon wafer manufacturers have started operating lower, resulting in a decrease in demand for silicon materials due to production cuts. The market is experiencing an oversupply situation. Moreover, the slowdown in the shipment speed of silicon material manufacturers has led to significant inventory pressure, forcing them to lower prices for shipments.

From the perspective of downstream silicon wafers, the operating load of silicon wafer enterprises continues to decrease, mainly due to the inventory backlog of manufacturers in the early stage and the slowdown in downstream procurement. The inventory level of silicon wafers continues to operate at a high level to continue digesting inventory. Currently, the inventory level is gradually returning to a reasonable level, and the procurement intensity may rebound in the later stage. The quotation for silicon wafers remained unchanged this week and remained unchanged from last week. The mainstream transaction price of the M10 single crystal silicon chip is 2.40 yuan per chip; The mainstream transaction price for G12 single crystal silicon wafers is 3.40 yuan per chip.

From the perspective of the terminal demand side, the prices of battery cells and components have been inverted, and the price of battery cells has continued to decline, with a slowdown in the decline. The average price of single crystal M10 battery cells has decreased by 0.05 yuan to 0.46 yuan, while G12 battery cells have decreased by 0.01 yuan to 0.52 yuan. Although the domestic installation rate is basically stable, external orders have decreased and overall terminal demand has slowed down.

Future forecast: Polycrystalline silicon analysts from Business Society believe that the silicon material market will continue to maintain a destocking mode in the short term, but the inventory pressure of manufacturers will gradually be eased, and the decline in the future will further narrow. Due to insufficient demand increment, weak operation may continue to dominate in the later stage.