According to media reports, overseas ESS demand has experienced explosive growth this year, leading to a sharp increase in orders for domestic battery cell enterprises. Factories are operating at full capacity.

[SMM Silicon-Based PV Morning Meeting Summary: Large Price Spreads in Polysilicon Quotations, Strong Game Sentiment in Module Market] Over the weekend, the quotation for N-type recharging polysilicon ranged from 49.2-54 yuan/kg, with the N-type polysilicon price index at 51.26 yuan/kg. Granular polysilicon was quoted at 48-49 yuan/kg. Polysilicon prices remained temporarily stable over the weekend, with limited transactions currently taking place in the market and few references available. There was a certain discrepancy between the intended prices of crystal pulling plants and polysilicon producers, and the price spreads among polysilicon producers were also significant. The delivery brand's quotations to traders remained higher than the spot market prices.

Supported by rising cost change and producers' willingness, cell prices are expected to remain above the average cash cost level throughout Q3, with limited room for decline.

[SMM Silicon-Based PV Morning Meeting Summary] Polysilicon: Yesterday, the price of N-type recharging polysilicon was 49-54 yuan/kg, while granular polysilicon was quoted at 48-49 yuan/kg. Market quotations rose, with silicon enterprises raising prices primarily based on subsequent industry self-regulation and market inventory structure distribution. However, there remains some price divergence between buyers and sellers, as crystal pulling plants exhibit strong resistance to high-priced resources, and the higher quotations from some polysilicon enterprises also reflect a degree of probing psychology. Wafer: The market price for N-type 18X wafers was 1.2-1.25 yuan/piece, and N-type 210RN wafers were priced at 1.35-1.4 yuan/piece. Amid the recent sharp rise in raw material prices, top-tier enterprises are planning a second round of wafer price increases, with the 183 wafer model reportedly being the subject of the hike.

SMM's monthly production data for base metals is released at the end of each month, aiming to uncover the true fundamentals for industry chain professionals and investors, and providing a clearer grasp of the future direction of the metals market.

[SMM Silicon-Based PV Morning Meeting Summary: Silicon Metal Production in September Increased MoM, Module Production Schedule Continued to Rise with Price Support] Over the weekend, the quoted price for N-type recharging polysilicon was 46-52 yuan/kg, the N-type polysilicon price index stood at 48.75 yuan/kg, and granular polysilicon was quoted at 45-47 yuan/kg. Polysilicon prices remained temporarily stable during the weekend. Trading volume for polysilicon surged at August month-end, but temporarily pulled back in September as self-discipline measures took effect, with downstream players adopting a wait-and-see approach to market conditions.

[SMM Silicon-based PV Morning Meeting Summary] Yesterday, the price of N-type recharging polysilicon was 46-52 yuan/kg, and the price of granular polysilicon was 45-47 yuan/kg. Market quotations remained temporarily stable. Influenced by the self-discipline of polysilicon enterprises in September, a batch of orders were signed and shipped at the month-end of August. Based on the later self-discipline agreement, polysilicon enterprises slightly increased their quotations in the early stage.