Report Industry Investment Rating - No information provided in the given content Core Viewpoints - The industrial silicon market may experience adjustments due to factors such as the resumption of production in some silicon plants and the overall low inventory - stocking willingness of downstream enterprises, while the bullish sentiment may still fluctuate. The polysilicon market has large - scale price fluctuations, and the sentiment has weakened but may still be volatile, so operations in both markets need to be cautious [1] Summary According to Related Catalogs Industrial Silicon - Price Changes: The average price of industrial silicon non - oxygen - blown 553 (East China) decreased by 2.05% to 9,550 yuan/ton, and the average price of 421 (East China) industrial silicon decreased by 0.98% to 10,150 yuan/ton. The closing price of the futures main contract dropped 5.65% to 8,760 yuan/ton [1] - Production and Inventory: In July 2025, the industrial silicon output was 338,300 tons, a month - on - month increase of 3.2% and a year - on - year decrease of 30.6%. From January to July 2025, the cumulative output was 2.2112 million tons, a year - on - year decrease of 20.0%. As of July 31, the total social inventory of industrial silicon in major regions was 540,000 tons, a week - on - week increase of 5,000 tons [1] - Cost: Affected by the slight increase in the price of raw coking coal in Gansu, the overall price of silicon coal increased slightly. The price of silicon mixed coal increased by 40 yuan/ton to 880 yuan/ton, and the price of silicon coal particles increased by 30 yuan/ton to 990 yuan/ton [1] - Supply and Demand: On the supply side, as the silicon price continues to rise, some previously shut - down silicon plants in Xinjiang have resumed production, and the power cost in the southwest production area has decreased, with the enterprise's start - up rate steadily rising. On the demand side, polysilicon enterprises maintain a production - reduction trend, some silicon material plants plan to resume production in July, and the organic silicon price continues to rise, while silicon - aluminum alloy enterprises purchase as needed [1] Polysilicon - Price Changes: The prices of N - type dense material, N - type re - feeding material, N - type mixed material, and N - type granular silicon remained unchanged, while the closing price of the futures main contract dropped 10.19% to 49,130 yuan/ton [1] - Supply and Demand: On the supply side, polysilicon enterprises maintain a production - reduction trend, and some silicon material plants may have new production capacity put into operation, with a slight increase in expected output. On the demand side, the photovoltaic market is weak, but the trading atmosphere has improved recently [1]
工业硅、多晶硅日评：或有回调-20250801
Hong Yuan Qi Huo·2025-08-01 02:09