CITIC Futures: Market sentiment fluctuates, polysilicon volatility increases

Recently, anti-inflationary emotions have reappeared repeatedly, and the prices of polysilicon have become more volatile. From the supply fundamentals, it is currently the dry season, and polysilicon production capacity in the Southwest region is still under reduction, with northern factories also undergoing maintenance and shutdowns, resulting in overall polysilicon output remaining relatively low. On the demand side, polysilicon demand continues to be weak, wafer production scheduling remains low, and the inventory of polysilicon warehouses is also increasing. Overall, weak demand has dragged down the spot prices of polysilicon, but in the medium to long term, considering that polysilicon supply is also shrinking simultaneously, the supply and demand for polysilicon in the future are expected to tighten, and prices may fluctuate within a wide range. (CITIC Futures)