[SMM Silicon-Based PV Morning Meeting Summary] Silicon metal: SMM oxygen-blown #553 silicon in east China was at 9,100-9,200 yuan/mt yesterday, and #441 silicon was at 9,300-9,400 yuan/mt. The most-traded futures contract hovered around 8,500 yuan/mt. Silicon metal prices continued to move sideways in a narrow range. In recent days, the market has seen no new news disruptions, leading to a stalemate in price changes. Increasing supply put prices under pressure in the short term. Wafer: Market prices for 18X wafers were 0.86-0.9 yuan/piece, 210RN wafers were 0.96-1.00 yuan/piece, and 210N wafers were 1.16-1.2 yuan/piece. Smaller factories have already begun to see transactions at lower prices. 18X wafers are under the most severe pressure, and the high end of the overall price range is trending further downward.

[SMM Silicone Weekly Review: DMC Transaction Center Rebounds Slightly, While Midstream and Downstream Purchases Follow with Small Orders Pushing for Lower Prices] After last week's industry meeting, the downward trend of the silicone market, which was overtly stable but covertly declining, was basically halted. However, overall demand still lacked support, with transactions seeing only a slight recovery, and high-priced goods were difficult to sell.

[SMM Silicone Weekly Review: DMC Seemingly Stable but Quietly Declining, Silicone Market Tug-of-War Intensifies] This week, China's silicone DMC market appeared stable on the surface but declined underneath, with the trading range shifting down to 14,300-14,800 yuan/mt, an average price of 14,550 yuan/mt, down approximately 350 yuan/mt WoW. In terms of regional quotations, mainstream quotations in Shandong and other regions all reached 14,800 yuan/mt.

[SMM Silicone Weekly Review: As New Round of Expectations for Price Hike Released, Downstream Enterprises at Various Stages Purchased on Demand] This week, the transaction center of China's silicone DMC market remained stable, with mainstream transaction range at 14,700-15,000 yuan/mt. Regional quotations continued to diverge, with monomer enterprises in Shandong maintaining quotations at 14,700 yuan/mt, while mainstream quotations in other regions were 15,000-15,200 yuan/mt. Post-holiday market transactions were mainly driven by rigid demand, as mid- and downstream enterprises that had not purchased before the holiday entered the market to restock on demand. Currently, some upstream producers have pre-sale orders scheduled through month-end of May, and producers maintained a firm willingness to hold prices firm. Combined with the approaching industry conference in May, overall bullish sentiment in the market strengthened, which also drove downstream enterprises to enter the market for procurement.

[SMM Silicon-Based PV Morning Meeting Summary] Silicon metal: Spot silicon metal prices remained stagnant this week. SMM east China oxygen-blown #553 silicon was at 9,000-9,200 yuan/mt, and #441 silicon was at 9,200-9,400 yuan/mt. Silicon metal futures prices fluctuated around 8,700 yuan/mt. With absolute prices on the high side, downstream players mainly digested inventories, and new order transactions were sluggish. Supply and demand were largely balanced, and prices remained in a stagnant consolidation. Polysilicon: N-type recharging polysilicon was quoted at 34.1-36 yuan/kg. Polysilicon prices were relatively stable overall this week. Orders were signed both in the preceding period and this week. Industry conferences continued to be held this week, coupled with wild swings in futures, and wait-and-see sentiment in the market gradually increased.

[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.