Chinese Polysilicon Leaders Set 43,000 Yuan/Tonne Floor Price at Hangzhou Meeting

This is a coordinated attempt to arrest a deflationary spiral in solar supply chains by effectively cartelising pricing, which matters because polysilicon is the upstream input for most global PV capacity. The immediate read-through is for Chinese producers' margins and downstream cell makers, who now face a cost floor that may not hold if demand stays weak. Whether the peer monitoring and capacity coordination mechanisms have any enforcement teeth — and whether non-participating producers undercut the floor — is the open question.