Pessimistic Sentiment Prevails as Silicon Prices Continue to Decline, Leaving Silicon Companies in a Difficult Position [SMM Silicon Industry Weekly Review]

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SMM, March 13: Silicon Metal:

This week, spot silicon metal prices continued to decline, while futures prices kept falling, with market pessimism prevailing. The weekly decline in silicon metal widened compared to WoW. As of March 13, SMM east China above-standard #553 silicon was at 10,400-10,600 yuan/mt, down 150 yuan/mt WoW; #441 silicon was at 10,800-11,000 yuan/mt, down 150 yuan/mt WoW; and #3303 silicon was at 11,700-11,900 yuan/mt, down 100 yuan/mt WoW. In the futures market, the main SI2505 contract fluctuated downward, breaking below 10,000 yuan/mt, with the lowest point during the week reaching 9,780 yuan/mt and closing at 9,945 yuan/mt on Thursday, down 230 yuan/mt WoW.

On the demand side, the operating rates of polysilicon, aluminum alloy, and silicone remained stable, resulting in relatively small changes in demand for silicon metal, with procurement largely on an as-needed basis. The continuous decline in silicon metal prices has left most silicon metal enterprises in a loss-making state. Spot market supply remained ample, with fierce price competition, and the downward trend in silicon metal prices persisted.

Polysilicon: This week, the mainstream transaction prices for N-type recharging polysilicon were 39-45 yuan/kg, and for N-type dense polysilicon were 38-42 yuan/kg. Some small factories offered N-type recharging polysilicon below 40 yuan/kg, while earlier large orders were transacted above 40 yuan/kg. Polysilicon prices remained stable for now, with lackluster market transactions this week. The market has not yet entered the concentrated order signing period, with both upstream and downstream players adopting a wait-and-see sentiment. Transactions are expected to gradually pick up next week. With Q2 quotas issued, downstream volumes slightly exceeded expectations, which may boost the polysilicon market in the future.

Silicon Wafers: This week, domestic N-type 18Xmm silicon wafers were priced at 1.18-1.2 yuan/piece, N-type 210R wafers at 1.35-1.4 yuan/piece, and N-type 210mm wafers at 1.5-1.55 yuan/piece. Silicon wafer prices continued to diverge this week, with 210R prices and transaction prices climbing steadily. After the meeting on the 12th, mainstream producers collectively quoted 1.4 yuan/piece. In contrast, 210mm wafers showed weaker performance, with transactions at 1.55 yuan/piece facing resistance. Moving forward, with Q2 quotas for silicon wafers confirmed, production schedules are expected to increase significantly.

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