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CITIC Futures: Pressure on the polysilicon supply side remains relatively high

2026-07-13 04:36:17

From a supply-side fundamental perspective, after multi-crystalline silicon production entered June, it gradually recovered, but pressure on the supply side remains high. On the demand side, end-user demand for multi-crystalline silicon stays weak; domestic photovoltaic installations saw a sharp drop, which means the subsequent potential upside in wafer production will be limited. Against the backdrop of weak demand, the number of multi-crystalline silicon warehouse receipts has continued to rise, and high inventories have weighed on multi-crystalline silicon prices. Overall, weak demand has been dragging multi-crystalline silicon spot prices; they are still falling. Watch how supply-side policies evolve. (CITIC Futures)

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