China’s polysilicon market showed early signs of stabilization, while wafer prices jumped sharply on stronger downstream demand and increased overseas purchasing.
The Silicon Industry Branch of the China Nonferrous Metals Industry Association (CNMIA) said on Aug. 19 that activity in China’s polysilicon market had begun to recover slightly after virtually no transactions or public quotations in early August. A small number of orders were concluded during the week, although a broader public pricing system has yet to return and the market remains in a tentative transition phase. Reference prices for n-type dense polysilicon were CNY 40 to CNY 42 ($5.95 to $6.25) per kilogram, with some producers testing offers as high as CNY 43/kg ($6.40/kg). Actual transaction volumes remained limited, mainly involving restocking by long-standing customers and deliveries linked to futures warehouse receipts. The association expects domestic polysilicon production to exceed 110,000 metric tons in August. The association said on Aug. 20 that wafer prices had risen sharply during the week. The average transaction price for n-type G10L mono wafers (182 × 183.75 mm, 130 μm) reached CNY 1.12 ($0.17) per piece, up 40% week on week. N-type G12R wafers (182 × 210 mm, 130 μm) averaged CNY 1.14 ($0.17), up 26.67%, while n-type G12 wafers (210 × 210 mm, 130 μm) averaged CNY 1.22 ($0.18), up 10.91%. The association attributed the surge primarily to a sudden increase in downstream demand. It said overseas cell manufacturers accelerated wafer purchases during a policy window in response to potential trade risks arising from US Section 232 tariffs, while the start of India’s traditional installation season further boosted export demand. Operating rates remained broadly unchanged, with two leading wafer producers running at 52% and 54%, vertically integrated manufacturers at 56% to 60%, and other producers at 50% to 78%.
