The price of polysilicon futures has fallen below 40,000 yuan/ton

On March 19th, a significant signal emerged from the upstream of the photovoltaic industry chain. At the close of trading that day, the main contract for polysilicon on the Guangzhou Futures Exchange fell below the 40,000 yuan/ton mark, closing at 38,550 yuan/ton, a decline of 5.77%. "This is a landmark event," said Qu Fang, an investment advisor at WanLian Securities, in an interview with reporters. The 40,000 yuan/ton level is widely regarded as the cash cost line for some leading companies in the polysilicon industry. The futures price falling below this threshold indicates that the market is applying "extreme pressure" on high-cost production capacity