Latest Update in the SMM Solar Market

The US energy landscape has abandoned the ’green nation‘ ideal and instead adopted a hardline approach of "energy dominance." The enactment of the One Big Beautiful Bill Act (OBBBA) signifies not only legislative updates but also a structural overhaul of the nation's energy framework and priorities. From canceling the large-scale Esmeralda 7 solar project to undertaking a comprehensive reorganization of the Department of Energy, this administration has established a new strategic triad. In short, the era of federal collaboration with renewable energy has ended; the new reality is defined by fossil fuel dominance, supply chain decoupling, and a pragmatic reshaping of power grid reliability.

[SMM Silicon-Based PV Morning Conference Minutes] Silicon Metal: In the past two days, silicon metal futures prices have fallen sharply and continuously, with the SI2601 contract closing at 8,340 yuan/mt yesterday, down 335 yuan/mt from the previous day. SMM oxygen-blown #553 silicon in east China was at 9,100-9,300 yuan/mt. As futures prices declined, spot-futures price spread resources followed the downtrend, with some downstream users and traders increasing purchase volumes. Transactions improved, and some spot-futures price spread quotations strengthened by 50-100 yuan/mt. Due to the rapid decline in silicon prices, silicon metal producers adopted a wait-and-see approach, either temporarily suspending quotations or maintaining prices steady from the previous week.

Solar cell manufacturers are currently weathering a cost storm triggered by silver prices.

[ SMM Silicon-Based PV Morning Meeting Minutes: Silicon Metal Transaction Center Weakens, Polysilicon Prices Temporarily Stabilize ] Over the weekend, N-type recharging polysilicon was quoted at 49.6-55 yuan/kg, the N-type polysilicon price index stood at 51.99 yuan/kg, and granular polysilicon was quoted at 49-51 yuan/kg. Polysilicon prices temporarily stabilized over the weekend, with the current market showing strong wait-and-see sentiment. The Guangzhou Futures Exchange added new delivery brands, downstream sentiment was somewhat weaker, and prices were temporarily stable.

India is exactly in the middle of energy transition, with its non-fossil fuel capacity exceeding 50 per cent of the national power mix.

On December 1, 2025, China Daily published a signed article by Li Lecheng, Minister of the Ministry of Industry and Information Technology, titled "Accelerating the Green and Low-Carbon Transformation of Chinese Manufacturing to Promote Global Sustainable Development."