According to Sina Finance: Polysilicon

【Price】As of last weekend, quotes for N-type polysilicon (re-feeding grade) ranged from 31.5 to 33.7 RMB/kg, with overall market prices remaining stable. While some low-price offers appeared early last week and were subsequently matched by several companies, actual transaction volume remained low; no new orders were signed over the weekend, and prices held steady for the time being.

【Production】Domestic polysilicon production in June saw a slight month-on-month increase but fell far short of expectations. This was primarily due to production cuts at facilities in Xinjiang and Qinghai, as well as slower-than-expected production ramp-ups in the Southwest region. Production is set to rise further in July, though current projections still lag behind the outlook from early June.

【Inventory】Inventory levels saw a slight increase. With few new orders being signed recently and the fulfillment of earlier contracts, polysilicon manufacturers have struggled to significantly deplete their stockpiles, leading to a rise in inventory.

Modules

【Price】Domestic mainstream transaction prices remained largely unchanged last week, though a significant gap persists between high and low price points. Companies vying for orders have recently begun adjusting ex-factory prices toward 0.65 RMB/W, yet transaction volumes remain limited; mainstream domestic prices (tax-inclusive, delivered) generally stay above 0.7 RMB/W. Leading manufacturers continue to quote higher prices, creating a market landscape split between those holding firm on prices and those selling at low rates. Current quotes for high-efficiency distributed-market modules are 0.731 RMB/W (Topcon 183), 0.736 RMB/W (210R), and 0.739 RMB/W (210N); quotes for utility-scale modules are 0.7185 RMB/W (Topcon 182/183), 0.7385 RMB/W (210N), and 0.729 RMB/W (210R).

【Production】Domestic operating rates have remained low recently; however, driven by some companies accepting low-priced orders, module production schedules for July have seen a modest increase.

【Inventory】Domestic module inventories declined slightly last week as distributors stepped in to make low-price purchases, though there has been no significant recovery in end-market demand. High-Purity Quartz Sand

【Price】Current domestic prices are 40,000–45,000 RMB/ton for inner-layer sand, 20,000–24,000 RMB/ton for middle-layer sand, and 16,000–18,000 RMB/ton for outer-layer sand; imported high-purity quartz sand is priced at 50,000–55,000 RMB/ton. Prices for 33-inch quartz crucibles range from 6,000 to 6,100 RMB/unit, while 36-inch crucibles range from 6,300 to 6,600 RMB/unit. The price of 36-inch crucibles has seen a downward adjustment.

【Production】Recently, semiconductor demand has improved, leading to a shift in demand for crucible-grade sand. Driven by increased silicon wafer production schedules, multiple crucible manufacturers report improved order demand; domestic high-purity quartz sand enterprises are aligning their production plans with wafer demand, and there has been a recent uptick in demand for high-purity quartz sand used in semiconductor and photovoltaic applications.

【Inventory】Imported sand inventory continued to rise in June. Silicon wafer enterprises are purchasing crucibles rationally based on their Q2 2026 production schedules, resulting in a continued increase in overall quartz sand inventory levels.

Photovoltaic Glass

【Price】

3.2mm Single-Coated: Quoted at 15.0–16.0 RMB/m²; prices remain stable.

3.2mm Double-Coated: Quoted at 16.0–17.0 RMB/m²; prices remain stable.

2.0mm Single-Coated: Quoted at 8.5–9.5 RMB/m². Recently, domestic glass enterprises have been reluctant to sell at low prices, generally refusing to sell at levels significantly below cost; however, purchasing sentiment from the module sector remains low, resulting in a market characterized by price negotiations.

2.0mm Double-Coated: Quoted at 9.5–10.5 RMB/m²; prices remain stable. [Production] Last week, there were no domestic furnace cold repairs or plugging operations, and the pace of supply-side production cuts slowed; however, due to significant earlier reductions, overall production for July is still expected to see a substantial decline.

[Inventory] Industry inventory levels (in days of sales) remained largely stable, though some enterprises saw a slight rise in inventory as they held back stock from the market.

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