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In a new weekly update for pv magazine , OPIS, a Dow Jones company, provides a quick look at key price trends in the global PV industry. The Global Polysilicon Marker (GPM), the OPIS benchmark for polysilicon produced outside China, held steady this week at $20.360/kg, or $0.046/W, reflecting unchanged market fundamentals. The global polysilicon market remains stable, with suppliers primarily urging customers with long-term contracts to meet payment schedules and make agreed monthly deliveries. Relatively low US import tariffs have reportedly supported some wafer and cell production. According to the China Silicon Industry Association, Chinese polysilicon exports increased 46% in December 2024 compared to November, with about 59% of shipments headed to Malaysia. This indicates that while some wafer production remains in Southeast Asia, a portion may still rely on polysilicon from China that meets traceability requirements, reducing global polysilicon demand. Some global polysilicon buyers appear hesitant to renew long-term agreements when they expire. These buyers are closely monitoring developments in US trade policy, particularly potential requirements to separate PV imports from Chinese components. On February 10, US President Donald Trump signed an executive order reinstating a 25% tariff under Section 232 on all steel and aluminum imports. Industry insiders indicate that this tariff could be extended to the solar sector, with a possible investigation on behalf of the US polysilicon industry that could lead to high tariffs on products containing Chinese polysilicon. If implemented, these measures could specifically restrict the entry into the U.S. market of modules containing any type of Chinese polysilicon, which could significantly drive up global polysilicon prices and drive up the costs of U.S. modules. China Mono Grade, OPIS’s assessment of prices for monograde polysilicon within the country, held steady this week at 33.625 yuan (4.63 USD)/kg, equivalent to 0.076 yuan/W. Similarly, China Mono Premium, OPIS’s price assessment for monograde polysilicon used in the production of n-type ingots, held steady at 40.375 yuan/kg, or 0.091 yuan/W. Chinas polysilicon mining rate and production remain largely stable, with the average mining rate remaining around 40%. Production levels in February are expected to be similar to those in January, at a level slightly below 100,000 metric tons™. Moreover, electricity prices in Sichuan and Yunnan – key regions for major polysilicon plants – remain above 0.50 yuan per kWh, a level considered high for polysilicon production. Therefore, exploitation rates are unlikely to increase in the short term. The Chinese polysilicon market is gradually moving towards a more balanced dynamic between supply and demand. A well-established polysilicon manufacturer with an annual production capacity of about 250,000 tons has reportedly ceased all production, while an integrated manufacturer with a total polysilicon capacity of 130,000 tons is said to be operating only a 50,000-ton plant at a utilization rate of less than 20%. Industry experts agree that addressing overcapacity in the polysilicon segment remains crucial to restoring balance across the entire PV supply chain, a process that is gradually unfolding. OPIS, a Dow Jones company, provides energy prices, news, data and analysis on gasoline, diesel, jet fuel, LPG/LNG, coal, metals and chemicals, as well as renewable fuels and environmental commodities. In 2022 it acquired the pricing data assets of the Singapore Solar Exchange and now publishes the OPIS APAC Solar Weekly Report . |
