工业硅数据日报-20251105

Report Summary 1. Report Industry Investment Rating - No information provided in the report. 2. Core View of the Report - The supply of industrial silicon is stable while demand is decreasing. During the dry season, the cost will rise slightly, and silicon prices may fluctuate. The supply side shows a slowdown in the resumption of production in the northwest region and successive production cuts in the southwest region. On the demand side, polysilicon will cut production during the dry season in November. In terms of inventory, the reduction of warehouse receipts drives the overall inventory decline [2]. 3. Summary by Relevant Catalogs Futures Market - Contract Prices and Changes: SI2511 closed at 8520 with a -1.73% change, SI2512 at 8920 (-2.25%), SI2601 at 8885 (-2.31%), SI2602 at 8865 (-2.53%), and SI2603 at 8875 (-2.37%) [2]. - Open Interest: SI2511 had an open interest of 2977, SI2512 had 70872, SI2601 had 242153, SI2602 had 37735, and SI2603 had 15858 [2]. Spot Market - Regional Prices: In the East China region, 553 (non - oxygenated) was priced at 9300, 553 (hydrogenated) at 9450, 421 at 9700, 441 at 9650, and 3303 at 10500. In Huangpu Port, 553 (oxygenated) was 9500 and 421 was 9950. In Tianjin Port, 553 (oxygenated) was 9350 and 421 was 9800. In Kunming, 553 (hydrogenated) was 9600, and in Sichuan, 421 was 9750. All prices had no change [2]. - Related Product Prices: DMC price was 11150, 107 glue was 11500, polysilicon (compact material, per kilogram) was 51, and the average price of aluminum alloy ADC12 was 21400 [2]. Price Spreads - Futures Spreads: The spread between si2511 - si2512 was -400 with a change of 40, and si2512 - si2601 was 35 with a change of 10 [2]. - Spot Spreads: The spread between 421 spot and 553 oxygenated spot was 250. The basis (East China 553 spot - main contract) was 565 with a change of 255 [2]. Warehouse and Warehouse Receipts - Warehouse Information: Various warehouses such as Zhongchu Wusong, Zhongchu Dachang, etc., had different capacities, and most had an ascension and rebate standard of 0. The total capacity was 27.55 tons. The total number of warehouse receipts decreased from 36997 to 36666, a decrease of 331 [2].