Group 1: Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. Group 2: Core View of the Report - On September 4th, industrial silicon showed a fluctuating and strengthening trend. The main contract 2511 closed at 8,515 yuan/ton, with an intraday increase of 0.12%. The position decreased by 2,437 lots to 277,000 lots. The spot reference price of industrial silicon from Baichuan was 9,369 yuan/ton, remaining unchanged from the previous trading day. The price of the lowest deliverable 421 product回调 to 8,600 yuan/ton, and the spot premium narrowed to 40 yuan/ton. Polysilicon also showed a fluctuating and strengthening trend. The main contract 2511 closed at 52,195 yuan/ton, with an intraday increase of 0.55%. The position decreased by 3,260 lots to 146,000 lots. The price of N-type recycled polysilicon material rose to 49,000 yuan/ton, and the price of the lowest deliverable silicon material dropped to 49,000 yuan/ton. The spot discount widened to 3,410 yuan/ton. The resumption of production in the north and south of industrial silicon and the increase in crystalline silicon production have become marginal drivers, and the overall operating center is expected to rise slightly. After the previous anti-involution news was fully priced in, the trading center of polysilicon has gradually shifted to fundamental logic. Due to the limitation of the terminal power station's rate of return, the acceptance of price increases in the component sector has reached its peak, and the silicon material market has cooled down following the downstream market sentiment. Before the introduction of specific policy measures, the market is still in a game between policy support and fundamental drag. Polysilicon has entered a range mode with obvious top and bottom levels, and policy dynamics have a phased disturbance effect on the market. Attention should be paid to the results of the Ministry of Industry and Information Technology's energy-saving special inspection on September 30th and the inventory clearance situation in the industrial chain. [2] Group 3: Summary by Relevant Catalog 1. Research View - On September 4th, industrial silicon and polysilicon both showed a fluctuating and strengthening trend. The main factors affecting the market include the resumption of production in the north and south of industrial silicon, the increase in crystalline silicon production, the limitation of the terminal power station's rate of return, and the cooling of the downstream market sentiment. The market is currently in a game between policy support and fundamental drag, and policy dynamics have a phased disturbance effect on the market. [2] 2. Daily Data Monitoring - Industrial Silicon: The futures settlement price of the main contract remained unchanged at 8,505 yuan/ton. The price of the near-month contract increased by 75 yuan/ton to 8,560 yuan/ton. The spot prices of most grades of industrial silicon remained unchanged, except for the price of oxygenated 553 silicon in Tianjin Port, which decreased by 50 yuan/ton to 9,000 yuan/ton. The current lowest deliverable price was 8,600 yuan/ton, and the spot premium decreased by 75 yuan/ton to 40 yuan/ton. The industrial silicon warehouse receipts decreased by 276 to 50,072, and the total social inventory increased by 7,000 tons to 442,900 tons. [3] - Polysilicon: The futures settlement price of the main contract increased by 35 yuan/ton to 52,195 yuan/ton, and the price of the near-month contract increased by 80 yuan/ton to 52,410 yuan/ton. The spot prices of most grades of polysilicon remained unchanged. The current lowest deliverable price was 49,000 yuan/ton, and the spot discount increased by 80 yuan/ton to 3,410 yuan/ton. The polysilicon warehouse receipts remained unchanged at 6,870, and the total social inventory decreased by 30,000 tons to 245,000 tons. [3] - Organic Silicon: The spot prices of most organic silicon products remained unchanged, except for the price of dimethyl silicone oil, which increased by 2,500 yuan/ton to 14,000 yuan/ton. [3] 3. Chart Analysis - Industrial Silicon and Cost Side Prices: The charts show the prices of different grades of industrial silicon, the price differences between grades, the regional price differences, the electricity prices, the silicon stone prices, and the refined coal prices. [4][6][10] - Downstream Product Prices: The charts show the prices of DMC, organic silicon products, polysilicon, silicon wafers, battery cells, and components. [13][16][18] - Inventory: The charts show the inventory of industrial silicon futures, industrial silicon warehouses, industrial silicon weekly industry inventory, industrial silicon weekly inventory changes, DMC weekly inventory, and polysilicon weekly inventory. [22][23][25] - Cost and Profit: The charts show the average cost levels and average profit levels of the main production areas, the weekly cost and profit of industrial silicon, the profit of the aluminum alloy processing industry, the cost and profit of DMC, and the cost and profit of polysilicon. [28][30][34]
工业硅、多晶硅日报-20250905
Guang Da Qi Huo·2025-09-05 05:04