Price trend

According to the analysis of the SunSirs' market monitoring system, on February 28, 2026, the domestic market price of silicon 441# was 9,540 RMB/ton, a decrease of 110 RMB/ton or 1.14% compared to February 1 (when the market price of silicon 441# was 9,650 RMB/ton).

With both supply and demand weak, the market for 441# silicon experienced a narrow decline in February

According to the commodity market analysis system of SunSirs, the domestic market price of 441# silicon fluctuated within a range in early February. At the beginning of the month, some regions suspended operations for maintenance, reducing the supply in the market, and the market price of 441# silicon rose slightly by 10-50 RMB/ton. However, demand remained cautious, limiting the price increase, and the market price fell back. On February 14, the reference price of 441# silicon in East China was 9,300-9,600 RMB/ton.

Following the holiday, the silicon market still lacked effective support, with a loose supply-demand dynamic persisting. Overall, market price negotiations were trending downwards. On February 28th, the domestic East China silicon market price was around 9,200-9,500 RMB/ton, a decrease of approximately 100 RMB/ton expected by the end of the month.

Fundamental Analysis

On the supply side: In February, the overall operating rate of domestic silicon was low, and the supply side contracted. However, some factories were not willing to sell at low prices, and the transmission effect on the supply side was generally weak.

On the demand side: In February, downstream demand for silicon was generally weak, the organosilicon market was in the off-season, and there was limited demand for raw materials. Polysilicon demand was cautious, with purchases mainly based on immediate needs. Overall, end-market purchasing activity was not strong, and overall inventory buildup was rational.

Market Outlook

The post-holiday recovery in demand for silicon was slow, with downstream inquiries remaining weak. According to analysts at SunSirs, the weak supply and demand situation in the silicon market is expected to continue in the short term. However, by mid-March, the market's inquiry activity may improve, and overall demand is expected to steadily increase. Further attention should be paid to changes in supply and demand dynamics.

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