工业硅：减产消息扰动，关注上方空间，多晶硅：市场情绪发酵，亦关注上方空间

Report Summary Investment Rating - No investment rating for the industry is provided in the report. Core Viewpoints - The report focuses on industrial silicon and polysilicon, suggesting to pay attention to the upside space due to production cut news and market sentiment fermentation respectively [1][2] Summary by Directory Fundamental Tracking - Futures Market: For industrial silicon Si2509, the closing price was 7,720 yuan/ton, with a trading volume of 1,087,621 lots and an open interest of 321,342 lots. For polysilicon PS2508, the closing price was 31,715 yuan/ton, with a trading volume of 225,035 lots and an open interest of 77,132 lots [2] - Basis: Industrial silicon's spot premium or discount varied against different benchmarks, and polysilicon's spot premium against N - type re - investment was +2155 yuan/ton [2] - Price: The price of East China oxygen - passing Si5530 was 8200 yuan/ton, Yunnan Si4210 was 9900 yuan/ton, and polysilicon N - type re - feedstock was 34500 yuan/ton [2] - Profit: Silicon factory profits were negative, with Xinjiang new standard 553 at - 3446 yuan/ton and Yunnan new standard 553 at - 6596 yuan/ton. Polysilicon enterprise profit was - 6.8 yuan/kg [2] - Inventory: Industrial silicon's social inventory was 54.2 million tons, enterprise inventory was 22.3 million tons, and industry inventory was 76.5 million tons. Polysilicon's factory inventory was 27.0 million tons [2] - Raw Material Cost: Prices of various raw materials such as silicon ore, washed coal, petroleum coke, electrodes, etc. showed different degrees of change [2] - Related Products in the Polysilicon (Photovoltaic) Industry: Prices of products like silicon powder, silicon wafers, battery cells, components, photovoltaic glass, and photovoltaic - grade EVA all had certain fluctuations [2] - Organic Silicon and Aluminum Alloy: The price of DMC in organic silicon was 10450 yuan/ton, and the profit of DMC enterprises was - 1688 yuan/ton. The price of ADC12 in aluminum alloy was 20000 yuan/ton, and the profit of recycled aluminum enterprises was - 610 yuan/ton [2] Macro and Industry News - On June 24, Longi Green Energy's solar cell and module manufacturing plant with an annual capacity of 1.4GW in Indonesia was officially launched. After the implementation of this project, Indonesia's solar energy capacity will increase to 3GW [2][4] Trend Intensity - The trend intensity of industrial silicon and polysilicon is both 0, indicating a neutral view [4]