Polysilicon offers hold as buying stays weak

Mysteel assessed Chinese N-type dense polysilicon at Yuan 38-43/kg and granular material at Yuan 37-41/kg on November 10, on a cash-delivered basis and including VAT; the source did not state the VAT rate. Dense material carried a headline quote of Yuan 43/kg, while granular material was quoted at Yuan 41/kg. October output was down 8.68% month on month, but downstream buyers continued to draw down inventory and purchased only small volumes from traders and futures-market participants. Output cuts offer some support, yet weak direct purchasing leaves Chinese suppliers competing for limited orders and keeps overseas buyers in a strong bargaining position.