CITIC Futures: Aumento de la emoción anti-involución, mayor volatilidad en el silicio multicristalino

Recent market concerns about supply-side disruptions have deepened, with fluctuations in polysilicon prices increasing.
From the supply fundamentals, it is currently the dry season, and polysilicon capacity in Southwest China remains in a state of reduction, and northern factories also face maintenance shutdowns, resulting in overall polysilicon output being relatively low.
On the demand side, polysilicon demand continues to be weak, wafer production schedules remain low, and the inventory of polysilicon warehouses is also increasing.
Overall, weak demand has dragged down the price trend of polysilicon, but in the medium to long term, considering that polysilicon supply is also shrinking simultaneously, and leading companies are strengthening integration and mergers, the supply and demand of polysilicon are expected to tighten in the future, and prices may fluctuate within a wide range. (CITIC Futures)