The fundamentals of the polycrystalline silicon industry are expected to improve, with multiple contracts approaching the daily limit increase.

On the 13th, the polycrystalline silicon futures contract PS2508-2511 opened slightly lower and quickly fluctuated upwards, approaching the limit up at one point. After experiencing a significant decline in the previous period, enterprises in the polycrystalline silicon industry have begun to self-rescue, and the fundamentals of the industry are expected to improve, leading to a rapid increase in futures prices. On one hand, the absolute price of distant month contracts had dropped to below 35,000 yuan/ton before the price increase, with a large discount compared to spot prices; on the other hand, there is an expectation of a supply side contraction in the polycrystalline silicon industry, which is expected to take effect after the third quarter, leading to a significant increase in distant month contracts. As we gradually enter mid-May, June will soon see its first delivery, but there are still few warehouse receipts, and with prices remaining low, there have been 20 lots of warehouse receipts cancelled, gradually favoring long positions. It is expected that the main fluctuation range of futures prices will be "36,000-42,000 yuan/ton", and long positions can be held.