远期政策预期依然强 多晶硅期货波动率较高

Core Viewpoint - The domestic futures market for non-ferrous metals is showing a predominantly positive trend, particularly in polysilicon futures, which have experienced a price increase of 2.20% [1] Group 1: Market Performance - Polysilicon futures opened at 52,510.0 yuan/ton and reached a high of 53,795.0 yuan, with a low of 52,425.0 yuan during the trading session [1] - The current market trend for polysilicon is characterized by a strong upward movement, indicating robust performance [1] Group 2: Industry Analysis - New Lake Futures highlights that the market is currently focused on fundamental factors, with a loose industry environment. Supply-side reductions are insufficient, while demand is decreasing, leading to accelerated inventory accumulation of silicon materials [1] - Zhonghui Futures notes a contrast between strong expectations and weak realities, with no further market news on capacity integration affecting market sentiment. However, effective cost support and strong spot prices suggest that buying on dips may offer better value [1] - Nanhua Futures points out that the volatility of polysilicon futures is significantly higher than that of lithium carbonate and industrial silicon, indicating a higher overall risk level. Investors are advised to participate cautiously and manage their positions and risk hedging effectively [1]