Minmetals Futures: Current market sentiment has a significant impact on polysilicon pricing.

Last week, polysilicon futures prices experienced sharp fluctuations, with the main contract hitting the daily limit on Monday, and on Friday, expectations cooled, causing the main contract to hit the daily limit down, reflecting the significant impact of current sentiment on market pricing. In reality, influenced by upstream price rebounds and policy expectations, quotes in the silicon wafer segment have risen slightly, but downstream segments remain cautious, with wafer cell and module transaction prices remaining relatively sluggish. The emotional transmission driven by the upstream raw material policy expectations is gradually diminishing and has not yet led to a substantial improvement across the entire industry chain. End-user demand still remains a drag. Recently, silicon material manufacturers have increased orders with downstream and futures spot traders, and factory inventories continue to decline, but transaction prices are still at relatively low levels, with the main contract trading at a discount. Currently, polysilicon futures expectations lead actual supply and demand changes, which are much weaker than the shift in sentiment, and market fluctuations are highly susceptible to policy expectations and emotional changes. It is expected that market prices will fluctuate widely, and a cooling of sentiment in the short term may lead to phased adjustments; operate cautiously. Pay attention to spot transactions and policy developments. (Minmetals Futures)