Price trend

According to the analysis of SunSirs' market monitoring system, on February 9, 2026, the domestic market price of silicon 441# was 9,650 RMB/ton, which was basically the same as the price on February 1. Compared with January 1 (the market price of silicon 441# was 96,520 RMB/ton), the price increased by 30 RMB/ton, an increase of 0.31%.

With ample supply and demand, the market for 441# silicon experienced fluctuations in early February, initially rising before falling

In early February (February 1st to February 9th), the domestic market price of 441# silicon showed a fluctuating trend of "rising first and then falling." From February 1st to 3rd, market trading was moderate, and the market price of 441# silicon remained stable at 9,650 RMB/ton. On February 4th, supply decreased in some regions, leading to a slight increase in silicon prices, ranging from 10-50 RMB/ton. On February 9th, supply and demand remained ample, and the prices of some grades of silicon saw a slight decrease. As of February 9th, the reference market price for 441# silicon in East China was 9,300-9,600 RMB/ton.

Fundamental analysis

Supply side: As of February 9th, with the Spring Festival approaching, the operating rate of production areas in Southwest China (Sichuan and Yunnan) remained low, with most manufacturers shutting down their furnaces and ceasing production, leading to a contraction in supply. Some enterprises in Xinjiang and Inner Mongolia had undergone early maintenance or reduced production due to losses, further tightening market supply and supporting a slight increase in market prices in early February. However, the supply transmission remained weak, and market prices had fluctuated downwards again.

Demand side: In the early stages, some downstream companies stocked up before the holiday to prepare for production shutdowns, which helped maintain basic price stability in the market during the holiday period. However, currently, downstream stockpiling before the holiday had largely ended, and demand from downstream industries such as polysilicon and silicone was relatively weak, with low purchasing intentions, thus suppressing the upward potential of prices.

Market outlook:

As the Spring Festival holiday ends in late February, downstream enterprises will gradually resume work and production, and procurement demand is expected to be steadily released. However, it may take some time for enterprises in the main producing areas to resume work, and the market supply will remain tight in the short term. It is expected that the price of silicon will continue its upward trend after the holiday.

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