工业硅：盘面偏强运行，多晶硅：消息发酵，盘面偏强

1. Report Industry Investment Rating No information provided in the text. 2. Core Viewpoints of the Report - The industrial silicon futures market is showing a relatively strong trend, with the Si2509 contract having a closing price of 9,350 yuan/ton, and the market is expected to maintain a strong operation [1]. - The polysilicon futures market is also influenced by news and shows a strong trend, with the PS2509 contract having a closing price of 50,805 yuan/ton [2]. 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Market Data: The closing price of Si2509 is 9,350 yuan/ton, with a decrease of 305 yuan compared to T - 5; the closing price of PS2509 is 50,805 yuan/ton, with an increase of 1,700 yuan compared to T - 5. The trading volume and open interest of both contracts have changed to varying degrees [2]. - Basis Data: The spot premium and discount of industrial silicon and polysilicon have different changes compared to different benchmarks, such as the industrial silicon spot premium (against East China Si5530) being +505 yuan/ton [2]. - Price Data: The price of East China oxygen - passing Si5530 is 9,800 yuan/ton, and the price of polysilicon - N - type re - feedstock is 46,500 yuan/ton, showing different price trends over different time periods [2]. - Profit Data: The profit of silicon plants (Xinjiang new standard 553) is - 1,851 yuan/ton, and the profit of polysilicon enterprises is - 17.6 yuan/kg, with different profit changes over different time periods [2]. - Inventory Data: The industrial silicon social inventory (including warehouse receipt inventory) is 53.5 million tons, and the polysilicon manufacturer inventory is 24.3 million tons, showing different inventory change trends [2]. - Raw Material Cost Data: The prices of raw materials such as silicon ore, washed coking coal, petroleum coke, electrodes, etc. have different price changes in different regions [2]. - Prices and Profits of Downstream Products: The prices and profits of downstream products such as organic silicon, aluminum alloy, and photovoltaic products have also changed to varying degrees [2]. 3.2 Macro and Industry News - On July 21, the National Energy Administration stated that it will accelerate the implementation of the institutional and mechanism construction for new energy to participate in the power market, promote the formulation of supporting policies in various regions, and improve the market mechanism design suitable for new energy characteristics. It will also promote the innovation of power distribution mechanisms to enhance the consumption and utilization level of new energy [3]. 3.3 Trend Intensity - The trend intensity of industrial silicon is 1, and the trend intensity of polysilicon is 1, indicating a relatively strong trend for both [4].