Group 1: Report Overview - The report is an industrial silicon daily report dated November 18, 2025, provided by the Research and Development Department of CCB Futures [2] Group 2: Market Performance - The industrial silicon futures price showed a narrow - range fluctuation. The closing price of Si2601 was 9,080 yuan/ton, with a 0.11% increase. The trading volume was 271,811 lots, and the open interest was 251,549 lots, with a net increase of 247 lots [4] - The spot price remained stable. The price range of 553 was 9,100 - 9,500 yuan/ton, and that of 421 was 9,750 - 9,950 yuan/ton [4] Group 3: Market Outlook - The supply and demand of industrial silicon both decreased, and the cost increase supported the price. The production in the southwest production area was in the process of reduction, with the weekly output gradually dropping below 90,000 tons [4] - Organic silicon enterprises planned to jointly cut production by 30%, which would reduce the monthly demand for industrial silicon by more than 30,000 tons. The weekly operating rate of polysilicon continued to decline slightly, and the weekly output in the second week of November dropped to 29,000 tons [4] - The electricity price in the southwest region would increase during the dry season, and the recent strengthening of petroleum coke also increased cost support. The price of 2601 was at a discount to the spot price, with limited downward space, and the market would mainly fluctuate within a range [4] Group 4: Market News - On November 17, the number of industrial silicon warehouse receipts on the Guangzhou Futures Exchange was 44,022 lots, a net decrease of 1,323 lots from the previous trading day [4] - On November 18, an organic silicon industry controlling - shareholder meeting would be held to determine the production - cut target. Most organic silicon manufacturers were in a state of suspension of quotation and sealing of orders [4] - TBEA's industrial silicon project was in full - production. From January to September 2025, affected by factors such as the low - price operation of industrial silicon and weak downstream demand, the overall performance of the industrial silicon industry was under pressure, and the company's project had not yet achieved profitability. The company had put the supporting source - network - load - storage project into use and would take measures to improve efficiency and economic benefits [4]

晨报 工业硅 工业硅：需求不振去库不佳，硅价加速探底 从业资格号：F3059924 投资咨询号：Z0002978 电话：010-62688526 从业资格号：F3078638 投资咨询号：Z0018248 电话：010-62688555 从业资格号：F3059529 投资咨询号：Z0018932 电话：010-62688516 从业资格号：F03127144 投资咨询号：Z0020161 电话：021-20857653 2025 年 5 月 8 日 整理 逻辑：昨日工业硅市场价格继续下跌，目前华东通氧 553#硅在 9000-9300 元/吨，华东 421#硅在 9900-10200 元/吨。期货端：工业硅期货主力合约 si2506 收盘价为 8290，-0.96%，延续增仓下跌，单日增仓 3246 手当前持仓为 18.28 万手，成交额为 101.41 亿元。 投资咨询业务资格： 证监许可【2011】1452 号 负责人：赵 毅 供给端：北方内蒙古、陕西、宁夏和山东在产硅企，保持当前开工，产量 波动不大，市场价格一直下跌的情况下，硅企亏损加大，生产承压，若行情长 时间延续当前格局，部分硅企存在减产停工计划， ...