Leading domestic polysilicon players in China’s PV industry, including Tongwei and GCL, held a closed‑door meeting on 11 October in Hangzhou to further advance the industry’s initiative to curb destructive price competition.
As reported by media including Cailian Press, the meeting covered capacity control, price floors for silicon and modules and mutual supervision among companies. On capacity, the companies discussed plans to use market‑based adjustment mechanisms to encourage companies to carry out independent coordination according to total market demand and proactively control their own capacity.
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On pricing, clear price floors were set for the polysilicon and module segments; the average tax‑inclusive cost‑based silicon price—including the Siemens process and granular silicon method—must not be lower than RMB43,000 (US$6,424.9) per ton, and any price below this is regarded as predatory dumping. On the module side, the BC module price must not be lower than RMB0.86 per watt, and the TOPCon module price must not be lower than RMB0.79 per watt.
The meeting also emphasised that prices for export products as well as in public and social procurement and bidding processes must likewise not fall below the above-mentioned bottom lines. Unlike previous industry “soft appeals,” this meeting clearly established a mutual supervision mechanism.
Regarding conduct that violates national anti-dumping regulations, maliciously undermines market‑economy rules and disturbs industry orders, a consensus was reached to encourage active reporting.
In August this year, eight polysilicon companies jointly signed a proposal for curbing destructive price competition in Shanghai, pledging that the sales prices of all PV products, including bidding quotations, should not be lower than the corresponding costs calculated under the association standard ‘General Rules for the Cost Accounting Model of the PV Industry.’
These eight companies are Tongwei, GCL-Tech, Daqo Energy, Xinte Energy, Asia-Silicon (Qinghai), Xinjiang East Hope New Energy, Qinghai Lihao Clean Energy and Xinjiang Geensi Silicon Industry Technology. Last week, Tongwei announced that negotiations were still ongoing for its planned acquisition of Qinghai Lihao Clean Energy.
Tongwei’s 2025 annual report disclosed that the company had built up an annual production capacity of approximately 900,000 tons of high-purity crystalline silicon (c-Si). Its reply to the annual report inquiry stated that in 2025, the polysilicon capacities of GCL-Tech, Daqo Energy, and Xinte Energy were 480,000 tons, 305,000 tons, and 300,000 tons respectively. Daqo Energy’s annual report also disclosed that its commissioned capacity reached 305, 000 tons per annum.
Based on these figures, the aggregate capacity of the four listed companies totaled approximately 1.985 million tons per annum. Taking the domestic polysilicon capacity of around 3.5 million tons per annum at the end of 2025 as cited in Daqo Energy’s annual report, the combined share of these four companies stood at roughly 56.7% of production capacity.
Domestic polysilicon production up 1.3% month-on-month
In the spot market, statistics from Antaike, released by the Silicon Industry Branch on 30 September, showed that the average transaction price of n-type re-feed material (rod silicon) that week was RMB43,000 per ton. The transaction range for n-type granular silicon was RMB40,000-41,000 per ton , averaging RMB40,300 per ton.
These prices, shown in the table below, are derived via weighted‑average compilation based on the production‑volume shares of n‑type re‑feed material, n‑type dense material and n‑type granular silicon from nine polysilicon manufacturers. Dashes indicate where no transactions were recorded for that week.
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The Silicon Industry Branch stated that only two or three companies concluded deals in the week of 30 September, with transaction volume down from the prior week. Downstream purchasing was driven largely by rigid demand, and large‑scale restocking had yet to commence.
Data from the institution showed that on the supply side, domestic polysilicon output in September stood at roughly 120,400 tons, a 1.3% month‑on‑month increase. Based on the production schedule at the time, two companies were set to restart operations to raise output in October, whereas six others planned production cuts. Domestic output is projected to drop to around 105,000 tons, a month‑on‑month decline of roughly 12.9%.
Against this backdrop, the industry still needs to monitor the actual implementation of production‑cut plans, which were first announced last year, and whether downstream restocking will materialise. Leading firms’ calls for price stabilisation will ultimately be tested by shifts in supply‑demand fundamentals and spot‑market transactions.
