On February 4, 2026, the Silicon Industry Branch released the polysilicon market transaction data, indicating that there were no quotations or transactions for mainstream polysilicon products this week. Market sentiment has become more cautious compared to the previous week, with new order signings completely stalled. Only a few companies made small-scale tentative inquiries. Downstream sectors primarily focused on digesting existing inventories, showing extremely weak purchasing intentions.

PriceSeek’s analysis of polysilicon assigned a bearish score of -1.5. The report highlighted that on February 4, 2026, there were no quotations or transactions for mainstream polysilicon products. Market caution intensified, new order signings came to a complete halt, and downstream purchasing willingness was extremely weak, with a focus on inventory digestion. This indicates severe demand insufficiency and an increased risk of oversupply, exerting significant downward pressure on spot prices. It is anticipated that spot prices may decline further.

Combined with polysilicon futures data (e.g., the main contract 2605 closed at 49,550 yuan/ton, down 105 yuan, with open interest decreasing by 288 lots), the pessimistic market sentiment may exacerbate the downward trend in futures prices. The reduction in open interest reflects strengthened bearish expectations.

The score of -1.5 (indicating a generally significant bearish factor) is attributed to weak demand and stalled transactions. Although not an extreme event, these factors have already exerted substantial downward pressure on prices.