War Fears Sent Aluminum to a 4-Year High — One Rumor Erased 20% of It

Sep 21, 2026

Q2 2026 A1 Solar Index: Silver and Polysilicon Swung Just as Wildly, Scrambling the Cost Math Behind Every Solar Panel

United States, September 21, 2026 -- Aluminum used in solar panel frames spiked to a four-year high of $3,855 per metric ton in early June — then lost nearly 20 percent of that gain within weeks after a single ceasefire rumor, according to the Q2 2026 A1 Solar Index.

The spike traced to Iranian strikes on Gulf smelters in March, which knocked out nearly half of regional capacity and pushed spot aluminum to a rare $110-per-ton premium over futures. Silver ran the same script in reverse: it spiked to $86.79 an ounce in April on the same war fears, then crashed below $60 in June as the dollar rallied and traders bet on Fed rate hikes — even as the physical market logged its sixth straight year of supply deficit. Polysilicon skipped the drama and just ground lower, down 25 percent to a cost floor near $4.86 per kilogram as Chinese output outpaced demand.

"These are commodities solar has no leverage over, and this quarter proved it," said Alexey Kruglov, chief executive officer of A1 SolarStore. "Aluminum and silver moved on a war in the Middle East — not on solar demand."

Additional findings from the Q2 2026 A1 Solar Index:

  • The compliance premium for non-Chinese polysilicon widened from 2.9 times Chinese pricing in March to nearly 4 times by June — a gap a new $21-per-kilogram minimum import price, effective December, is set to widen further
  • Silver's elevated price is accelerating the solar industry's shift to copper paste, with manufacturer DK Electronic Materials scaling toward gigawatt-level production through 2026
  • The U.S. Midwest aluminum premium eased to 108.7 cents per pound by July from 119.05 cents in May, after pushing all-in aluminum above $5,000 per metric ton earlier this year

The Q2 2026 A1 Solar Index tracks three dimensions of market health — price stability (40%), inventory levels (30%), and demand change (30%) — sourced from real buyer transactions, not surveys or forecasts. Full commodity pricing detail, panel specification trends, and regional benchmarks are covered in the full Q2 2026 report.

About A1 SolarStore
A1 SolarStore is America's #1 specialized supplier of solar equipment and home energy solutions. Since 2017, the company has served homeowners, DIYers, contractors, and commercial buyers through a catalog of 200+ brands and a network of 150+ pickup locations.

A1 Solar Index is the company's quarterly outlook on the US solar market and its main contribution to industry research. Each edition combines A1 SolarStore's own data – what is selling, at what price per watt, and in which states.

Contact Info:
Name: Egor Ucvatov
Email: Send Email
Organization: A1 SolarStores
Website: https://a1solarstore.com/

Release ID: 89203592

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