[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 east China oxygen-blown #553 silicon 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, with the most-traded contract’s low falling below 8,200 yuan/mt and closing at 8,205 yuan/mt near the end of the session. Some silicon enterprises in northern China lowered their quoted prices, but they still lacked the price advantage held by spot-futures traders, and downstream users mainly bought the dip. Polysilicon: N-type recharging polysilicon was quoted at 48-55.8 yuan/kg, and the polysilicon price index was 51.38 yuan/kg. Overall polysilicon prices were relatively stable. The market previously had some expectations of price cuts, but as cost-based pricing was again “called for,” the market developed expectations that meetings would be held again. Wait-and-see sentiment has increased somewhat, and polysilicon is showing a short-term trend of stabilizing after halting declines.

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.