Polysilicon Transaction Center Moves Upward, High-Purity Quartz Sand Prices Adjusted Upward [SMM Silicon-Based PV Morning Meeting Summary]

SMM March 5 News:

Silica

Prices: Silica prices remained stable. Downstream silicon plants in south-west China recently reported that production resumption plans for the rainy season remain unclear, and the overall progress of raw material procurement has been delayed. The anticipated significant recovery in downstream procurement enthusiasm for silica in March did not materialize, and overall market demand for silica remains weak. Currently, the mine-mouth price of high-grade silica in Jiangxi is 430-460 yuan/mt, in Inner Mongolia is 350-380 yuan/mt, and in Hubei is 400-450 yuan/mt.

Production: The supply side of silica remains normal. However, due to less active procurement demand from downstream silicon plants in March than expected, the overall supply remains ample.

Inventory: Silicon plants in south-west China have mostly reported unclear production resumption plans for the rainy season, and there are no significant restocking plans for silica raw materials in the near term.

Silicon Metal

Prices: Spot silicon metal prices showed a relatively stable with weak trend. Yesterday, the price of above-standard #553 silicon in east China was 10,600-10,700 yuan/mt, #441 silicon was 11,000-11,200 yuan/mt, and #3303 silicon was 11,900-12,000 yuan/mt.

Production:

SMM reported that silicon metal production in February 2025 was 289,500 mt, down 1,450 mt or 4.8% MoM, and down 16% YoY. Based on daily production, the average daily output in February was higher than in January. Additional production capacity is expected to be released in March, leading to a significant increase in monthly supply.

Inventory:

Social Inventory: SMM statistics show that as of February 28, the total national social inventory of silicon metal was 608,000 mt, including 147,000 mt in general warehouses and 461,000 mt in delivery warehouses (including unregistered warehouse warrants and spot cargo). Note: Starting February 28, SMM's social inventory data includes new warehouse statistics from Xinjiang and Tianjin, with the added inventory data traced back to December 6. Therefore, the total inventory in this version differs from previous statistics.

Silicone

Prices:

DMC: Current prices are 13,700-14,300 yuan/mt. The market transaction center remained stable this week, with low-end prices slightly increasing.

D4: Current prices are 13,500-14,600 yuan/mt, with market prices temporarily stable.

107 Silicone Rubber: Current prices are 14,000-14,500 yuan/mt. Downstream demand began to recover in March, with increased purchasing willingness, though the purchasing volume still needs to rise further. 107 silicone rubber enterprises slightly raised their quotations this week, and the transaction center is expected to rise further.

Raw Silicone Rubber: Current prices are 14,300-15,000 yuan/mt, with market prices relatively stable compared to last week.

Silicone Oil: Current prices are 15,000-15,800 yuan/mt, with market prices stable.

Production:

Last week, the operating rate of monomer enterprises slightly increased due to the resumption of some facilities. However, this week, new monomer enterprises reduced production loads, leading to a slight decline in the overall operating rate.

Inventory:

Monomer enterprise inventories remained stable this week. Some downstream enterprises began purchasing, improving transaction volumes.

Polysilicon

Prices:

Yesterday, the mainstream transaction price of N-type recharging polysilicon was 39-45 yuan/kg. Polysilicon prices rose slightly this week, mainly due to increased volume and price from downstream, prompting leading enterprises to raise quotations for crystal pulling plants by 1-2 yuan/kg. Further attention is needed on actual transaction performance.

Production:

Polysilicon production schedules in March are expected to increase due to the number of calendar days, though some enterprises may undergo maintenance.

Inventory:

Major wafer enterprises signed some orders earlier, and recent cargo pick-up has increased, leading to a slight decline in polysilicon inventory.

Silicon Wafer

Prices:

The market price for N-type 18X silicon wafers is 1.18-1.2 yuan/piece, and for N-type 210RN silicon wafers is 1.3-1.35 yuan/piece. Silicon wafer prices remained stable. After the price increase in March, market transaction sentiment turned more cautious.

Production:

Silicon wafer production schedules in March are expected to rise by approximately 2-3 GW MoM, mainly driven by increased operations of integrated enterprises. Some enterprises have started seeking tolling business.

Inventory:

March battery production schedules remain higher than silicon wafer production, with future demand expected to improve. Destocking is anticipated in the future.

High-Purity Quartz Sand 

Prices:

High-purity quartz sand prices remained stable this week. Domestic inner-layer sand prices are 60,000-75,000 yuan/mt, middle-layer sand prices are 35,000-45,000 yuan/mt, and outer-layer sand prices are 19,000-25,000 yuan/mt. Recent quotations for middle- and outer-layer sand are expected to rise due to price increases by leading enterprises, though actual transactions will depend on back-and-forth negotiations between upstream and downstream.

Production:

Domestic operations remained relatively stable this week, with stable overseas quartz sand supply.

Inventory:

Domestic sand enterprise inventories slightly increased this week, as crucible enterprises have not yet consumed their raw material inventories.

》View SMM Silicon Product Prices