In the wake of the Chinese New Year Festival, the price of polysilicon has fallen by a few percentage points to the still very high value of $34.5 per kilogram, according to Silicon Industry Branch figures. Compared to a total production cost of at most $7.5, and the January low price point of just $22.5 per kilogram. We had expected in January for the polysilicon price to collapse slowly through 2023 and then continue to decline at a slower pace, and this just hasn’t happened. There are two straightforward explanations for this. The first is that Chinese output didn’t increase much in January, reaching only 101,400 tons, and declined by 3.7% in February, to 97,600 tons. That’s enough to make…