In March, the domestic polycrystalline silicon market performed weakly, with little change in prices from major manufacturers and a loosening in import prices. According to the Commodity Market Analysis System of Business Society, the monthly decline of single crystal dense materials is 3.72%. The main reason is that the supply of silicon materials is abundant, and downstream demand for photovoltaics is lagging behind. According to the Commodity Market Analysis System of Business Society, polycrystalline silicon saw a weekly increase and decrease of 0%. At present, the mainstream range of single crystal dense materials with a model of first-class solar energy has slipped to 55-6000 yuan/ton.

On the supply side, the operating rate of polycrystalline silicon remained relatively high in March, at around 80% or more. All the equipment in the large factory has started operating, and the supply is showing some pressure. On the one hand, the production of mainstream large factories is stable, and the addition of new production capacity brings incremental growth to the market, resulting in abundant domestic supply performance. However, due to the difficulties in increasing the burden on downstream silicon wafers, the inventory pressure of silicon wafer manufacturers is gradually increasing. In addition, with the slowdown of downstream procurement, the shipment speed of manufacturers has slowed down, leading to silicon material manufacturers starting to accumulate inventory. Although the current prices have reached a low level, manufacturers are gradually showing a willingness to stand up for prices. Most manufacturers have not changed much in factory prices this month, and the main reason for the price decline is the impact of lower import volume. However, the bargaining power of silicon material manufacturers may continue to weaken, and it is not ruled out that there is a possibility of a long-term decline.

From the demand side, the downstream demand for photovoltaics in the market remained relatively rigid in March, while the production of pulling crystals remained at a medium high level. Therefore, the inventory level of silicon wafers has also risen, mainly due to the decrease in downstream battery procurement volume. Battery manufacturers generally maintain low production to cope with the difficulties of sluggish terminal installation procurement, which makes it difficult to digest more silicon wafer inventory and puts greater pressure on silicon wafer factories to ship. Therefore, the price of silicon wafers has dropped significantly this month. Generally exceeding 10%. As of the end of March 29th, the mainstream transaction price of M10 silicon wafers fell by 0.3 yuan this week, to 1.75 yuan per wafer; The mainstream transaction price of G12 has fallen significantly, with a drop of 0.35 yuan to 2.45 yuan per piece.

Market forecast: Polycrystalline silicon analysts from Business Society believe that the upstream supply pressure of the photovoltaic industry chain may gradually become prominent, but the demand for installed capacity is still low. The upstream and downstream of photovoltaics will continue to remain sluggish, and the price of silicon materials is still difficult to improve in the short term.