工业硅：上游减产扰动，盘面有所反弹，多晶硅：关注市场消息面影响

1. Report's Investment Rating for the Industry - There is no information about the industry investment rating in the report 2. Core Viewpoints of the Report - The upstream production cut of industrial silicon has disrupted the market, causing the futures price to rebound, while the polysilicon market is affected by news [1] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Futures Market: The closing price of Si2605 is 8,845 yuan/ton, with a trading volume of 391,114 lots and an open interest of 235,167 lots. The closing price of PS2605 is 50,505 yuan/ton, with a trading volume of 12,235 lots and an open interest of 44,571 lots [1] - Basis: Industrial silicon has different spot premiums or discounts against different benchmarks, while polysilicon's spot premium against N - type re - feed is +5150 yuan/ton [1] - Price: The price of Xinjiang 99 - silicon is 8700 yuan/ton, Yunnan Si4210 is 10000 yuan/ton, and polysilicon N - type re - feed is 55000 yuan/ton [1] - Profit: The profit of Xinjiang new - standard 553 silicon plants is - 2526.5 yuan/ton, and that of Yunnan new - standard 553 silicon plants is - 5749 yuan/ton. Polysilicon enterprise profit is 10.4 yuan/kg, DMC enterprise profit is 1830 yuan/ton, and the profit of recycled aluminum enterprises is - 130 yuan/ton [1] - Inventory: Industrial silicon's social inventory is 55.5 million tons, enterprise inventory is 20.8 million tons, and industry inventory is 76.3 million tons. Polysilicon manufacturer inventory is 32.1 million tons [1] - Raw Material Costs: The prices of raw materials such as silicon ore, washed coking coal, petroleum coke, and electrodes in different regions are provided. For example, Xinjiang silicon ore is 320 yuan/ton, and Xinjiang washed coking coal is 1475 yuan/ton [1] - Polysilicon (Photovoltaic): The prices of products such as silicon powder, silicon wafers, battery cells, components, photovoltaic glass, and photovoltaic - grade EVA are given. For example, the price of N - type 210mm silicon wafers is 1.69 yuan/piece, and the price of TOPCon - 210mm battery cells is 0.41 yuan/watt [1] - Organosilicon: The price of DMC is 13900 yuan/ton [1] - Aluminum Alloy: The price of ADC12 is 23900 yuan/ton [1] 3.2 Macro and Industry News - On the evening of January 16th, TCL Zhonghuan announced plans to acquire all or part of the shares of Yida New Energy, but the investment is still in the planning stage and there are uncertainties [1][3] 3.3 Trend Strength - The trend strength of industrial silicon is 0, and that of polysilicon is 1, indicating a neutral view on industrial silicon and a slightly positive view on polysilicon [3]