[SMM PV News] CHN Energy Commissions 4 GW Lingwu PV Base on Subsidence Land

[SMM Silicon-Based PV Morning Meeting Minutes] Silicon metal: Yesterday, SMM oxygen-blown #553 silicon in east China was at 9,000-9,200 yuan/mt, and 441# silicon was at 9,200-9,500 yuan/mt. Yesterday afternoon, silicon metal futures prices fluctuated sharply due to macro disruptions; the most-traded contract fell below 8,200 yuan/mt at its low and closed at 8,205 yuan/mt in late trading. Some silicon enterprises in northern China lowered their quoted prices, but they still did not match the price advantage of spot-futures traders, and downstream users mainly bought the dip. Polysilicon: N-type recharging polysilicon was quoted at 46-53 yuan/kg, the polysilicon price index was 49.17 yuan/kg, and polysilicon prices have declined significantly recently, mainly due to pressure from wafer price cuts and the impact of related meetings. At present, as the wafer segment has yet to stop falling, market sentiment is weak, and there may still be some downside room going forward.

Recently, geopolitical turbulence in the Middle East has emerged, bringing a certain degree of impact to the overall overseas PV market. Below, we provide an in-depth analysis of the current Middle East PV market from various perspectives:

France's grid operator RTE reported a near doubling of renewable energy curtailment in 2025 to almost 3 TWh. Driven by expanding capacity and frequent negative wholesale prices, solar and wind generators on 'premium' schemes increasingly reduced output to prevent grid imbalances. While total 2025 generation reached 547.5 TWh (over 95% low-carbon), the surge in curtailment underscores the urgent need for enhanced flexibility solutions like battery energy storage and demand response.