Institution: The photovoltaic upstream approaches the bottom of the cost, the downstream continues to be under pressure, and continues to probe lower.

According to Jibang Consulting, as prices fall to the psychological expectation point for silicon crystal factories, downstream purchasing intentions are starting to pick up. Some silicon crystal companies feel that it is time to make purchases, and are gradually entering the market to replenish their inventory. As a result, the overall trading volume in the market has slightly increased compared to the previous period, and the trading atmosphere has improved somewhat. Currently, the actual transaction price of silicon materials has fallen to the range of 30-35 yuan, basically approaching the limit of decline, with very little room for further downward movement. However, considering the overall supply and demand pattern of oversupply, there is also a lack of rebound momentum in the short term, and it is expected that silicon material prices will continue to consolidate in the current low range in the near future.