Core Viewpoint - The industrial silicon market is experiencing a divergence between futures and spot prices, with futures prices declining while spot prices remain stable [1][2]. Group 1: Market Trends - From October 30 to November 5, the main futures contract price dropped from 9155 CNY/ton to 9020 CNY/ton, a decrease of 135 CNY/ton [1]. - The national comprehensive price for industrial silicon on November 5 was 9174 CNY/ton, with specific grades priced at 8708 CNY/ton for 553, 9055 CNY/ton for 441, and 9658 CNY/ton for 421 [1][3]. - Regional price variations were noted, with prices in Xinjiang, Yunnan, and Sichuan at 8798 CNY/ton, 9753 CNY/ton, and 9950 CNY/ton respectively [1][3]. Group 2: Supply and Demand Dynamics - The domestic industrial silicon market is facing insufficient support from downstream demand, particularly in the organic silicon sector, which is entering a traditional off-peak season [2]. - Despite attempts by production companies to stabilize prices through production cuts, the price of organic silicon DMC fell by 200 CNY/ton to 11000 CNY/ton [2]. - In the aluminum alloy sector, demand continues to grow due to strong performance in downstream industries like automotive [2]. Group 3: Market Balance and Future Outlook - The industrial silicon market is currently in a phase of "weak reality and strong cost" dynamics, with spot prices remaining stable due to production cut expectations and cost support [2]. - Futures prices are fluctuating around the 9000 CNY/ton mark, indicating a cautious balance between demand expectations and cost support [2]. - Future market trends will depend on the extent of production cuts in the southwestern region and the recovery of actual downstream demand [2].

Core Viewpoint - The industrial silicon market is currently experiencing a divergence between futures and spot prices, characterized by "futures down, spot steady" dynamics, with the market balancing between weak demand and strong cost support [1][2]. Price Trends - The main contract price for industrial silicon fell from 9155 CNY/ton to 9020 CNY/ton, a decrease of 135 CNY/ton during the week of October 30 to November 5 [1]. - The national comprehensive price for industrial silicon on November 5 was 9174 CNY/ton, with specific grades priced as follows: 553 at 8708 CNY/ton, 441 at 9055 CNY/ton, and 421 at 9658 CNY/ton [1][3]. Regional Analysis - In the Southwest region, particularly in Sichuan and Yunnan, rising electricity prices have led to production cuts, providing price support for industrial silicon [2]. - In contrast, regions like Xinjiang and Inner Mongolia have stable production levels, with slight cost increases but overall weak demand limiting price increases [2]. Demand Insights - Demand from the downstream sectors remains insufficient to support industrial silicon prices, particularly in the organic silicon sector, which is entering a traditional off-peak season [2]. - Despite attempts by producers to stabilize prices through production cuts, the price of organic silicon DMC has decreased by 200 CNY/ton to 11000 CNY/ton [2]. - In the polysilicon sector, while prices remain stable and transaction activity has increased, production cut expectations continue to constrain demand for industrial silicon [2]. Freight Costs - The freight cost from Yili to Tianjin Port is 600 CNY/ton, while from Kunming to Huangpu Port it is 350 CNY/ton [5]. Participating Companies - A list of companies involved in the industrial silicon market includes major players from Xinjiang, Fujian, Yunnan, and Sichuan regions, indicating a diverse supply chain [5].