Group 1: Report Industry Investment Rating - The report does not provide an industry investment rating [1] Group 2: Core Viewpoints of the Report - For industrial silicon, the futures price hits a new low, and it is advisable to short at high prices; for polysilicon, the spot market is weak, and the futures performance is also weak [1] - The trend strength of industrial silicon and polysilicon is -1, indicating a bearish outlook [3] Group 3: Summary Based on Related Catalogs 1. Fundamental Tracking - Futures Market: The closing price of Si2507 is 7,340 yuan/ton, down 100 yuan from T - 1, and the closing price of PS2507 is 35,100 yuan/ton, down 190 yuan from T - 1 [1] - Basis: The spot premium of industrial silicon (against East China Si5530) is +1190 yuan/ton, and the spot premium of polysilicon (against N - type recycled material) is -1050 yuan/ton [1] - Price: The price of East China oxygen - passing Si5530 is 8500 yuan/ton, and the price of polysilicon - N - type recycled material is 36500 yuan/ton [1] - Profit: The profit of silicon plants in Xinjiang (new standard 553) is -4057 yuan/ton, and the profit of polysilicon enterprises is -5.1 yuan/kg [1] - Inventory: The industrial silicon - social inventory (including warehouse receipt inventory) is 58.2 tons, and the polysilicon - manufacturer inventory is 26.0 tons [1] - Raw Material Cost: The price of silicon ore in Xinjiang is 420 yuan/ton, and the price of graphite electrode is 11800 yuan/ton [1] 2. Macro and Industry News - Thailand's Investment Commission has introduced four measures to help Thai enterprises cope with US tariffs and external challenges, including stopping investment promotion incentives for oversupplied or trade - restricted industries and strengthening the review of key production processes in vulnerable industries [2][3]
工业硅:盘面再创新低,以逢高布空为主,多晶硅:现货弱势,盘面亦表现偏弱
Guo Tai Jun An Qi Huo·2025-05-29 01:30