Once as high as 18%! The huge price difference between the delivery price of polycrystalline silicon and the spot price sparks discussions, and Guangxi Futures Exchange responds.

Regarding the issue of delivery specifications for polycrystalline silicon, relevant responsible persons from the Exchange stated that the quality standards for polycrystalline silicon futures delivery are designed based on industry demand, and the related indicators are formulated based on national standards, without exceeding downstream product standards. Both benchmark and alternative delivery products are widely circulated in the spot market, meeting the actual needs of downstream industrial customers. Currently, most upstream industry enterprises have the production capacity for delivery products. The Exchange once organized a survey on the quality of polycrystalline silicon in 2024, conducting on-site sampling in 18 industrial factories. According to the test results, 67% of products in the industry meet the quality requirements for benchmark delivery products, and 89% of products meet the quality requirements for alternative delivery products. Addressing the issue of limited brands for the current delivery of polycrystalline silicon, the relevant person emphasized that the registration of polycrystalline silicon futures brand is mainly voluntary application by the registered brand company. In the polycrystalline silicon spot market itself, there is a situation where the number of producing enterprises is small and the industry concentration is relatively high. From the perspective of producing enterprises, the vast majority of them are already registered brands for polycrystalline silicon futures.