瑞达期货工业硅产业日报-20250519

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The total demand for industrial silicon from the three major downstream industries is showing a downward trend and fails to strongly boost the market. The large number of warehouse receipts exerts significant delivery pressure on the market, severely restricting price increases. Overall, with low supply, reduced demand, and high inventory, a mid - to long - term short - selling strategy is recommended [2] 3. Summary by Relevant Catalogs Futures Market - The closing price of the main contract is 8,130 yuan/ton, down 15 yuan; the position volume of the main contract is 155,038 lots, up 16,616 lots; the net position of the top 20 is - 22,466 lots, up 2,521 lots; the warehouse receipts of the Guangzhou Futures Exchange are 66,097 lots, down 287 lots; the spread between the July - August contracts is - 35, unchanged [2] Spot Market - The average price of oxygen - passing 553 silicon is 8,950 yuan/ton, down 150 yuan; the average price of 421 silicon is 9,850 yuan/ton, down 150 yuan; the basis of the Si main contract is 820 yuan/ton, down 135 yuan; the DMC spot price is 11,680 yuan/ton, unchanged [2] Upstream Situation - The average price of silica is 410 yuan/ton, unchanged; the average price of petroleum coke is 1,930 yuan/ton, unchanged; the average price of clean coal is 1,850 yuan/ton, unchanged; the average price of wood chips is 540 yuan/ton, unchanged; the ex - factory price of graphite electrodes (400mm) is 12,250 yuan/ton, unchanged [2] Industry Situation - The monthly output of industrial silicon is 335,750 tons, up 46,400 tons; the weekly social inventory of industrial silicon is 599,000 tons, up 3,000 tons; the monthly import volume of industrial silicon is 52,919.65 tons, up 2,211.36 tons; the monthly export volume of industrial silicon is down 12,197.89 tons [2] Downstream Situation - The weekly output of silicone DMC is 39,200 tons, down 300 tons; the average price of aluminum alloy ADC12 in the Yangtze River spot market is 20,500 yuan/ton, unchanged; the overseas price of photovoltaic - grade polysilicon is 15.75 US dollars/kg; the weekly average price of photovoltaic - grade polysilicon is 4.3 US dollars/kg, down 0.04 US dollars/kg; the monthly export volume of unwrought aluminum alloy is 18,176.9 tons, up 691.08 tons; the weekly operating rate of silicone DMC is 59.57%, down 0.48 percentage points; the monthly output of aluminum alloy is 20,187.85 tons, up 165.5 tons; the monthly export volume of aluminum alloy is down 337.93 tons [2] Industry News - On May 17, 2025, Aba Xilong Industrial Silicon Co., Ltd. obtained a patent named "A New Device for Improving the Screening Rate of Industrial Silicon Powder" with the authorization announcement number CN222872642U and an application date of June 2024. The state is increasing investment in long - term data infrastructure construction. As the wet season approaches in Yunnan, Sichuan and other places, the cost advantage of electricity prices stimulates local industrial silicon enterprises to resume production more quickly [2]