- China Mono Grade, the OPIS benchmark assessment for polysilicon prices in the country, fell to CNY60.25 ($8.40)/kg) on Jan.16, down 51.8% year-on-year amid a growing supply glut.
Overall market sentiment remained bearish with many market participants expecting further price cuts ahead of the Lunar New Year festivities in early February. Polysilicon prices were in the range of CNY54-65/kg, OPIS learnt during its weekly market survey.
China produced a total of 1.45 million tons of polysilicon in 2023, up 81.4% year-on-year, data from China’s Silicon Industry Association showed. Current inventory levels stood at 60,000 MT and January’s production is expected to reach 170,000 MT, according to China’s Silicon Industry Association.
Market participants do not expect these inventories to be depleted soon as some companies had already procured January and early February cargoes and said that there was room for prices to fall further in the coming weeks.
Meanwhile, the Global Polysilicon Marker (GPM), the OPIS benchmark for polysilicon outside China was assessed at $26.063/kg on Jan.16, down 30.7% year-on-year tracking price declines in the Chinese market, OPIS data showed.
Source: OPIS
OPIS, a Dow Jones company, provides energy prices, news, data, and analysis on gasoline, diesel, jet fuel, LPG/NGL, coal, metals, and chemicals, as well as renewable fuels and environmental commodities. It acquired pricing data assets from Singapore Solar Exchange in 2022 and now publishes the OPIS APAC Solar Weekly Report.
This article was originally published in pv magazine and is republished with permission.
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