The polysilicon price has fallen further, below $6.7/kg, so we’re now looking at a 17% price decline in the past month. The module price has fallen to $122 per kW – ending three months of price stability. The main driver of the decline is still the expansion of polysilicon production capacity with several hundred thousand tons having recently been commissioned (enough to supply the US market several times over), piling overcapacity on overcapacity. We had previously thought that the general polysilicon marginal cost of production was $7/kg. How low can it go when you’re only looking at the two-fifths of polysilicon facilities which are the most cost-effective and the most able to stay in business? Or, indeed, now that the…