China silicon industry body: polysilicon supply contraction continues, supply-demand improves

The flat pricing alongside thinning spot activity suggests the market is clearing through inventory drawdown rather than fresh demand, which makes the supply contraction the more meaningful variable here. With only a handful of producers transacting, price discovery is thin and the reported stability may reflect seller discipline as much as genuine balance. For polysilicon producers and downstream wafer buyers, the question worth watching is whether the drawdown gives way to restocking demand before the supply pullback runs its course — that transition, not the flat print itself, would signal a real shift.