工业硅:关注市场情绪,多晶硅:仓单去化
Guo Tai Jun An Qi Huo·2025-09-23 01:30
- Report Industry Investment Rating - No information provided on the report industry investment rating 2. Core View of the Report - The report focuses on the fundamentals, news, and trend strengths of industrial silicon and polysilicon, providing data on prices, volumes, inventories, and other indicators [1] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking 3.1.1 Futures Market - Industrial silicon Si2511: The closing price was 8,950 yuan/ton, down 355 yuan from T - 1; the trading volume was 586,687 lots, up 76,381 lots from T - 1; the open interest was 285,490 lots, down 25,607 lots from T - 1 [1] - Polysilicon PS2511: The closing price was 50,990 yuan/ton, down 1,710 yuan from T - 1; the trading volume was 253,135 lots, down 76,477 lots from T - 1; the open interest was 123,917 lots, up 8,068 lots from T - 1 [1] 3.1.2 Basis - Industrial silicon: The spot premium against East China Si5530 was +445 yuan/ton, up 60 yuan from T - 1; against East China Si4210 was -105 yuan/ton, up 60 yuan from T - 1; against Xinjiang 99 silicon was -105 yuan/ton, up 110 yuan from T - 1 [1] - Polysilicon: The spot premium against N - type re - investment material was -1105 yuan/ton, up 335 yuan from T - 1 [1] 3.1.3 Price - Industrial silicon: Xinjiang 99 silicon was 9000 yuan/ton, up 200 yuan from T - 1; Yunnan Si4210 was 9950 yuan/ton, up 100 yuan from T - 1 [1] - Polysilicon: N - type re - investment material was 52600 yuan/ton, unchanged from T - 1 [1] 3.1.4 Profit - Industrial silicon: The profit of silicon plants in Xinjiang (new standard 553) was -2366 yuan/ton, down 60 yuan from T - 1; in Yunnan (new standard 553) was -3311 yuan/ton, down 60 yuan from T - 1 [1] - Polysilicon: The profit of polysilicon enterprises was -14.1 yuan/kg, up 0.4 yuan from T - 1 [1] 3.1.5 Inventory - Industrial silicon: The social inventory (including warehouse receipt inventory) was 54.3 tons, the enterprise inventory (sample enterprises) was 17.5 tons, and the industry inventory was 71.8 tons [1] - Polysilicon: The manufacturer's inventory was 21.9 tons [1] 3.1.6 Raw Material Cost - Industrial silicon: The price of silicon ore in Xinjiang was 320 yuan/ton, down 10 yuan from T - 5; in Yunnan was 290 yuan/ton, down 10 yuan from T - 5 [1] - Other raw materials: The prices of washed coal, petroleum coke, electrodes, etc. also had corresponding changes [1] 3.2 Macro and Industry News - In August, China's exports of photovoltaic cells not installed in modules or assembled into blocks were about 143477 million, a month - on - month increase of 37767.7 million (35.7%) and a year - on - year increase of 75696.1 million (111.7%) [1][3] 3.3 Trend Strength - The trend strength of industrial silicon was 0, and that of polysilicon was 1. The range of trend strength is an integer in the [-2, 2] interval, with -2 being the most bearish and 2 being the most bullish [3]