On January 7, according to statistics from the Silicon Industry Association, China's domestic polysilicon output in December 2025 reached approximately 111,200 metric tons, marking a 3.2% month-on-month decrease. Annual polysilicon output for 2025 totaled approximately 1.319 million tons, down 28.4% year-on-year. Based on production schedules from major polysilicon manufacturers, domestic output in January 2026 is projected to be around 106,000 tons, representing a month-on-month decline of about 5%. Compared to wafer production plans for the same period, supply remains relatively ample, indicating that polysilicon inventory accumulation is expected to continue in January.

Market Outlook: The traditional seasonal slowdown in end-user demand during the first quarter remains unchanged. Without stronger demand drivers, existing module orders provide limited support to market demand, and the current price trend lacks sustainable momentum.

The polysilicon market is expected to maintain stable operations in the short term. Substantial market support will only materialize once end-user demand gradually recovers toward the end of the first quarter, leading to genuine profit recovery across the industry chain.

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