[SMM Silicon-Based PV Morning Meeting Summary] Silicon metal: At the beginning of the week, futures prices saw wider fluctuations driven by market news. As the news was debunked, futures prices weakened again. Yesterday, SMM east China oxygen-blown #553 silicon was at 8,900-9,100 yuan/mt, and #441 silicon was at 9,100-9,300 yuan/mt. Yesterday, the most-traded SI futures contract closed at 8,320 yuan/mt, down 95 yuan/mt from the previous day but up 70 yuan/mt from Monday. Polysilicon: N-type recharging polysilicon was quoted at 34-36.5 yuan/kg. Polysilicon prices continued to edge down slightly this week, but the decline narrowed. On one hand, prices were already approaching the cost lines of most producers; on the other hand, some market "rumors" circulating earlier, combined with unusual movements in futures, gave polysilicon producers more options.

[SMM Silicone Weekly Review: Silicone Full-Range Product Quotes Raised, New Order Transactions Mainly Rigid] This week, China's silicone DMC market traded in the range of 14,400-14,500 yuan/mt, up 200 yuan/mt WoW. Regional quotes, monomer enterprises in Shandong quoted 14,400 yuan/mt, up 400 yuan/mt from early March. Mainstream monomer enterprises in other regions mostly quoted 14,500 yuan/mt, up 200 yuan/mt from early March, with the regional price spread narrowing. New order transactions were overall mediocre this week. Mid- and downstream enterprises were generally focused on consuming existing raw material inventory, with only small volumes purchased for rigid demand.

[SMM Silicon-Based PV Morning Meeting Summary] Silicon metal: Spot silicon metal prices trended weaker yesterday. SMM east China oxygen-blown #553 silicon was at 8,900-9,100 yuan/mt, down 100 yuan/mt from the previous day. #441 silicon was at 9,200-9,300 yuan/mt, down 100 yuan/mt from the previous day. The SI2605 contract closed at 8,260 yuan/mt yesterday. The decline in silicon prices stimulated the release of some rigid demand orders from downstream buyers and traders. With weak supply and demand, silicon prices consolidated at lows. Polysilicon: N-type recharging polysilicon was quoted at 34.5-37.5 yuan/kg. Polysilicon prices continued to decline recently, and bearish sentiment persisted in the market. Some individual transactions below current mainstream transaction prices emerged. Polysilicon inventory pressure remained significant, exerting pressure on future prices.

[SMM Weekly Silicone Review: Silicone Product Prices Rebounded, While Overall Market Transactions Remained Sluggish] This week, the transaction range in China’s silicone DMC market was 14,200-14,300 yuan/mt, up 200 yuan/mt WoW, with overall market transaction prices seeing a phased rebound.

[SMM Silicon-Based PV Morning Briefing] Silicon metal: The silicon metal market remained in a weak stalemate. Yesterday, SMM east China oxygen-blown #553 silicon was at 9,100-9,200 yuan/mt, down 50 yuan/mt from the previous day. Weaker expectations for production cuts on the supply side weighed on market sentiment. At the start of the week, futures prices trended weaker, and the center of spot transactions for some cargoes in the market edged lower. Cost support from the raw material side remained firm, and prices may fall back into stalemate. Polysilicon: N-type recharging polysilicon was quoted at 35.5-41.5 yuan/kg. Polysilicon prices have continued to decline recently, mainly affected by market sentiment and inventory exit the market among some leading enterprises. At present, low-priced polysilicon has already fallen below the cost line of some producers, and the sentiment to hold quotes firm has strengthened somewhat. Relevant meetings still need to be monitored going forward.

[SMM Silicone Weekly Review: Silicone Market Transaction Center Stabilized, Downstream Purchased as Needed on Price Dips] This week, the transaction range in China's silicone DMC market was 13,800-14,300 yuan/mt, stable WoW. By regional quotes, monomer enterprises in Shandong quoted 14,000 yuan/mt, while mainstream monomer enterprises in other regions mostly quoted 14,300 yuan/mt. After the phased price fluctuations last week, the main transaction range gradually stabilized.