China's polysilicon futures fell more than 3% at the October 22 morning open, while lithium carbonate dropped more than 2% and nickel rose nearly 3%, exchange data showed. The split session highlights two opposing forces in China's new-energy chain: persistent oversupply pressure in solar and lithium, and tighter near-term sentiment in nickel. Lower polysilicon futures do not automatically translate into weaker spot prices because producers are still implementing output cuts and downstream wafer and cell margins remain weak. Traders should watch whether futures weakness feeds back into spot transactions later this week.
Edited by Lucas Wang, wangchenghao@mysteel.com
