Group 1 - The investment rating of the industry is not mentioned in the report [1][2] Group 2 - The core view of the report is that the current supply - demand pattern of industrial silicon has not reversed, and there is a lack of driving force for price increases. In the short term, industrial silicon will mainly operate weakly and stably [2] Group 3 Logic - The spot market quotation of industrial silicon was stable yesterday, but the actual transaction price may decline. The price of East China oxygen - mixed 553 silicon is 10100 - 10300 yuan/ton, and that of East China 421 silicon is 10800 - 11200 yuan/ton. The closing price of the main contract si2505 of industrial silicon futures was 9760, down 0.20%, with the main contract reducing its position by 17,564 lots, the position being 192,500 lots, and the trading volume being 6.161 billion yuan [1] Supply - side - The production of silicon enterprises in Inner Mongolia, Yunnan, Shaanxi, Ningxia, and Shandong is currently stable, and the previously planned production cuts have not been implemented, resulting in the accumulation of enterprise inventories. The northern market has abundant supplies, and spot - futures traders are actively quoting prices. The market's inquiries about substitutes such as recycled silicon and 97 - silicon are increasing, but the transactions are average. The powder - list tender price has declined again, and the demand in the silicone industry is difficult to remain stable due to production cuts [1] Demand - side - The current polysilicon price is stable, and downstream buyers still purchase on demand, with no significant increase in the demand for silicon materials. The current price of re - feeding materials is 37 - 39 yuan/kg, the price of dense materials is 35 - 38 yuan/kg, the price of cauliflower materials is 32 - 34 yuan/kg, and the price of N - type materials is 41 - 43 yuan/kg. The silicone DMC quotation is generally stable, with the mainstream transaction price referring to 14,000 - 14,500 yuan/ton (net water delivered). The mainstream production devices have gradually started flexible production adjustments. However, the demand side is restricted by weak terminal consumption, and downstream buyers only purchase on demand and try to lower prices. The market trading activity depends on rigid demand. The price of aluminum alloy ingots is stable, the alloy ingot market still has weak demand, the market trading atmosphere remains light, and the procurement enthusiasm of downstream die - casting enterprises is not high [1] Inventory - On April 2, the warehouse receipt inventory of industrial silicon was 70,034 lots, an increase of 324 lots on that day, and the warehouse receipt inventory remained at a high level [1]
工业硅晨报：供需格局尚未扭转，硅价继续弱势震荡-2025-04-03
Hua Bao Qi Huo·2025-04-03 05:38