Group 1 - As of May 29, 2023, seven steel mills in Shandong have confirmed a total annual production target of 55.33 million tons, a decrease of approximately 3.5 million tons compared to the same period last year, with a planned reduction in crude steel production of 4%-10% for 2025 [1] - According to Mysteel, as of May 29, the production of rebar has shifted from an increase to a decrease, with social inventories declining for the twelfth consecutive week, while market demand has increased slightly to 2.4868 million tons, up by 15,500 tons or 0.63% from the previous week [1] - A stainless steel plant in South China plans to halt production for approximately 25 days starting July 5 due to ultra-low emission renovations, which is expected to impact stainless steel output by 80,000 tons [1] Group 2 - The Malaysian government plans to increase the biodiesel blending ratio for ground transportation vehicles from B10 to B20 [1] - As of May 25, 2023, Canadian canola exports decreased by 10.36% week-on-week to 160,100 tons, while commercial inventories stood at 919,900 tons [1] - As of May 29, the total inventory of float glass in China was 67.662 million heavy boxes, a decrease of 107,000 boxes week-on-week, while the total inventory of soda ash was 1.6243 million tons, down by 52,500 tons [2] Group 3 - OPEC+ member countries are expected to decide on increasing oil production at a meeting on May 31, although the potential scale of the increase remains unclear [2] - A major aluminum supplier has lowered its aluminum premium for shipments to Japan in Q3 to $145 per ton, down by 20% from Q2's $182 per ton [3]

Group 1: Investment Rating - No investment rating information is provided in the report. Group 2: Core Views - The current oversupply situation of industrial silicon is difficult to change in the short term, and the industrial silicon market is still in a downward trend, showing weak fluctuations in the short term [2] Group 3: Summary by Relevant Catalogs Market Price - The spot price of industrial silicon fluctuated little yesterday, with the ex - factory price hovering at the bottom. The price of East China oxygen - passing 553 silicon is 8900 - 9200 yuan/ton, and that of East China 421 silicon is 9800 - 10100 yuan/ton. The closing price of the main contract of industrial silicon futures, si2506, was 7910, down 2.34%, with 10324 hands reduced during the day, a total of 64,700 hands, and a turnover of 5.116 billion yuan [1] Supply - Northern large factories will continue to resume production in the near future. It is expected that the eastern production area will gradually resume production to 40 submerged arc furnaces. Coupled with the fact that some southern factories are ready to start furnaces, the market supply is expected to increase significantly next month, which is obviously negative for the current price [1] Demand - The price of polysilicon is stable, and the game between upstream and downstream continues to deepen. The price expectation divergence intensifies. At present, the transaction price of some polysilicon has fallen below the cost line. The price - concession willingness of silicon material enterprises is limited, but due to inventory pressure, downstream still has the bargaining initiative. The mainstream price of silicone DMC remains stable, and manufacturers focus on shipment. The short - term transaction center will still remain in the low - price range, and the subsequent actual transaction of DMC is expected to be maintained at 11300 - 12000 yuan/ton. Recently, with production cuts, the inventory of silicone has decreased slightly, and the short - term demand for industrial silicon remains stable. The price of aluminum alloy ingots is stable, but the enterprise profit continues to narrow, the shipment is average, and production is under pressure [1] Inventory - On May 20, the warehouse receipt inventory of industrial silicon was 66,246 hands, an increase of 152 hands, and the total inventory of industrial silicon remained at a high level [1]