Guoxin Futures: Fundamentals dominate, polysilicon prices under pressure

Polycrystalline silicon main contract prices fell 4.69% compared to the previous trading day, closing at 33,770 yuan/ton, with an increase of 2,350 lots.
On the supply side, weekly polycrystalline silicon output declined month-on-month, and major factories plan to extend shutdown periods in April, with output expected to remain at low levels.
In terms of downstream demand, the prices of silicon wafers and solar cells have decreased, leading to inventory accumulation among enterprises, and production schedules have been adjusted downward; terminal component prices have fallen, enterprise operating rates have declined, recent order quantities have decreased month-on-month, and some companies are liquidating inventory at low prices.
The fundamentals of polycrystalline silicon are relatively weak, and short-term prices remain under pressure, with trading maintaining a strategy of shorting on rallies. (Guoxin Futures)