Core Viewpoint - Recent industrial silicon prices are influenced by supply-side policies, with market sentiment rising due to rumors of potential environmental production limits in Xinjiang and strict quality control of industrial silicon warehouse receipts [1] Supply Side - Industrial silicon production costs are increasing despite a decrease in quartzite prices, driven by rising prices of petroleum coke and premium coal [1] - There has been no significant progress in supply-side reforms for industrial silicon, and without production constraints, high prices may stimulate a rebound in production [1] Demand Side - The demand for industrial silicon has been strong, driven by high prices of polysilicon stimulating production and pre-holiday stocking needs [1] - The complete cost of industrial silicon has shifted to a range of 8,800-9,300 yuan/ton, which may serve as a central axis for price fluctuations [1] Market Outlook - Despite the upward shift in industrial silicon prices, the market is expected to remain in a range-bound oscillation due to limited terminal demand and a significant amount of new production capacity awaiting commissioning [1]
银河期货：工业硅短期偏强 但上方仍有压力
Ge Long Hui·2025-09-22 02:23