Group 1: Report Information - The report is an industrial silicon daily report dated September 12, 2025, issued by the Research and Development Department of CCB Futures [2] - The energy and chemical research team includes researchers for different sectors such as crude oil, PTA/MEG, industrial silicon/polysilicon, etc [3] Group 2: Investment Rating - No investment rating is provided in the report Group 3: Core Views - The industrial silicon futures price fluctuated. The Si2511 closed at 8740 yuan/ton, up 2.46%. The trading volume was 347,619 lots, and the open interest was 287,771 lots, with a net increase of 9,706 lots [4] - Spot prices vary by region: Sichuan 553 is 8800 yuan/ton, Yunnan 553 is 8550 yuan/ton; Inner Mongolia 421 is 9400 yuan/ton, Xinjiang 421 is 9300 yuan/ton, and Sichuan 421 is 9600 yuan/ton [4] - The monthly output in September will exceed 400,000 tons, nearly 80,000 tons more than in June. The demand increase is mainly from the polysilicon sector, with an expected output of 125,000 tons in September, nearly 30,000 tons more than in June. The total monthly demand is 360,000 tons. The imbalance between supply and demand persists, and the market lacks inventory reduction drivers. The spot price remains stable, and the futures price is expected to continue wide - range fluctuations [4] Group 4: Summary by Section 1. Market Review and Outlook - Market Performance: The industrial silicon futures price showed a fluctuating trend. The Si2511 contract had specific closing price, trading volume, open interest and its change data [4] - Spot Prices: Different regions have different spot prices for different grades of industrial silicon [4] - Future Outlook: Forecasts on production, demand, and price trends, indicating continued supply - demand imbalance and price stability with wide - range fluctuations [4] 2. Market News - On September 11, the futures warehouse receipt volume on the GZEX was 50,093 lots, a net increase of 48 lots from the previous trading day [5] - In July 2025, China's metal silicon exports were 74,000 tons, a month - on - month increase of 8.32% and a year - on - year increase of 36.75%. From January to July 2025, the total exports were 414,700 tons, a year - on - year decrease of 1.04% [5] - From January to July 2025, the cumulative photovoltaic installed capacity was 1109.6GW, and the newly added installed capacity was 223.25GW. The newly added installed capacity in July was 11GW, a year - on - year decrease of 47.7%, the lowest in 2025 [5]
建信期货工业硅日报-20250912
Jian Xin Qi Huo·2025-09-12 01:33