本周工业硅现货价格下跌。过去一周（2025年4月3日-9日），主力合约收盘价从9820元/吨震荡波 动至9485元/吨，跌幅为3.41%。全国综合价格为9922元/吨，下跌310元/吨，其中分牌号来看，553为 9701元/吨、441为10158元/吨、421为10551元/吨，分别下跌318元/吨、301元/吨、313元/吨和324元/吨， 新疆、云南、福建和四川的综合价格为9831元/吨、10578元/吨、15268元/吨和10650元/吨。FOB价格上 涨60美元/吨。 短期来看，供需关系难以改善，较高的行业库存去化较为困难，工业硅价格上方压力较大，下方需 求支撑较弱，整体市场情绪较为悲观，预计价格仍将维持底部区间震荡。 （李敏） 本周工业硅市场仍以按需采购为主，盘面接连下跌叠加下游需求不振，现货价格下跌。供应端，北 方地区按计划减产，南方地区在当前市场行情下开工意愿较低，整体开工情况未有明显变化。需求端， 有机硅单体厂或会进一步加大减产力度，整体产量有减少预期，对工业硅需求减少；多晶硅厂有新增产 能投放和企业检修，总体产量持稳，对工业硅需求持稳；铝合金企业按需采购，整体需求有继续小幅减 少的预期。价格 ...

工业硅&多晶硅日报（2025 年 4 月 8 日） 一、研究观点 点评 7 日多晶硅震荡偏弱，主力 2506 收于 43265 元/吨，日内跌幅 0.67%，持仓增仓 1788 手至 33190 手；SMM 多晶硅 N 型硅料价格 42000 元/吨，现货对主力贴水收至 1265 元/吨。工业硅震荡偏弱，主力 2505 收于 9550 元/吨，日内跌幅 2.7%，持仓减仓 9409 手至 17.02 万手。百川工业硅现货参考价 10605 元/吨，较上一交易日下调 45 元/吨。最低交割品#553 价格降至 9650 元/吨，现货贴水收至 20 元/吨。企业联合 减产量级有限且需求持续疲弱，硅厂关于后续减产扩大与否仍未达成共识，难以形 成持续有效去库效果。预计减产在消息端有一定稳定市场情绪作用，但过剩压力高 企状态下，市场对再次减产的反应将逐步弱化。4 月多晶硅交割业务开启，交仓承 载结构性需求，但现货成交未见增速，且期现贸易商和厂家关于远月定价意见分 歧。供需错配预期加码、多晶硅延续近强远弱格局，持续跟踪交割进度及产业库存 去化节奏。 工业硅日报 请务必阅读正文之后的免责条款部分 EVERBRIGHT FU ...

存维持高位，操作上建议，工业硅主力合约2505，震荡区间9700-10100，止损价格9600和10200，注意操 工业硅产业日报 2025-04-02 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 主力合约收盘价(日,元/吨) | 9760 | -30 主力合约持仓量(日,手) | 192480 | -17564 | | | 前20名净持仓(日,手) | -38440 | 2566 广期所仓单(日,手) | 70034 | 324 | | | 5-9月合约价差 | -85 | -15 | | | | 现货市场 | 通氧553#硅平均价(日,元/吨) | 10200 | 0 421#硅平均价(日,元/吨) | 11050 | 0 | | | Si主力合约基差(日,元/吨) | 440 | 30 DMC现货价(日,元/吨) | 14400 | 0 | | 上游情况 | 硅石平均价(日,元/吨) | 410 | 0 石油焦平均价(日,元/吨) | 1650 | 0 | | | 精煤平均 ...

Core Viewpoint - The industrial silicon market remains stable with no significant improvement, facing a dual reduction in supply and demand, leading to a pessimistic market sentiment and expectations of price fluctuations within a bottom range [1] Supply Side - The main contract price fluctuated from 9920 CNY/ton to 9760 CNY/ton, a decrease of 1.61% over the past week [1] - In March, manufacturers maintained normal production levels, resulting in a slight increase in output compared to February, but with a projected overall reduction of about 8% as northern manufacturers implement production cuts [1] - Some new production capacity is expected to come online, but the overall reduction in supply is greater than the increase [1] Demand Side - The operating load of organic silicon monomer plants continues to decline, leading to reduced demand for industrial silicon [1] - The operating levels of polysilicon plants remain stable, maintaining demand for industrial silicon [1] - Aluminum alloy plants are purchasing industrial silicon based on demand, with an overall slight decrease in demand expectations [1] Price Dynamics - Some monomer plants are experiencing significant inventory pressure, leading to a strong desire to reduce stock, which is causing downward pressure on transaction prices [1] - Polysilicon prices remain stable despite the overall market conditions [1] - The industrial silicon market is expected to face pressure due to high inventory levels, contributing to a pessimistic market outlook [1]

工业硅日报 工业硅&多晶硅日报（2025 年 4 月 2 日） 一、研究观点 点评 1 日多晶硅震荡偏强，主力 2506 收于 43560 元/吨，日内涨幅 0.28%，持仓增仓 890 手至 26637 手；SMM 多晶硅 N 型硅料价格 42000 元/吨，现货对主力贴水扩至 1560 元/吨。工业硅震荡偏弱，主力 2505 收于 9790 元/吨，日内跌幅 0.31%，持仓减仓 10118 手至 21 万手。百川工业硅现货参考价 10680 元/吨，较上一交易日持稳。最低 交割品#553 价格降至 9650 元/吨，现货贴水收至 65 元/吨。近期企业联合减产消息 出现，但仍未达成共识。在大厂出现大规模减产动作前，工业硅库存难以形成有效 去化，延续探底节奏。缅甸地震导致国内西部拉棒核心产区云南、宜宾一带厂家出 现焖锅、炸棒、炸炉等情况，叠加进入 4 月交割带动部分需求，多晶硅下方有支 撑，但近期终端抢装消化组件库存，稀释需求传导，上方空间有限制。 请务必阅读正文之后的免责条款部分 EVERBRIGHT FUTURES 1 工业硅日报 二、日度数据监测 三、图表分析 3.1 工业硅及成本端价格 图表 1： ...

Industrial Silicon - In February, the spot price of industrial silicon remained stable initially but then declined towards the end of the month due to low market activity and a lack of consensus on price expectations between buyers and sellers [1] - The supply side is expected to increase with the resumption of production by major manufacturers and the introduction of new capacity, while demand remains weak with no significant growth anticipated [1] - Overall, industrial silicon prices are expected to remain stable at low levels due to high inventory and cost support from the lower end [1] Polysilicon - In February 2025, the polysilicon market price remained stable, with n-type raw material monthly average prices at 41,700 CNY/ton and n-type granular silicon at 39,000 CNY/ton [2] - The market saw limited transaction volume as downstream companies completed post-holiday restocking, leading to uneven distribution of raw material inventory [2] - The supply of polysilicon is expected to remain below 100,000 tons in March, with demand primarily driven by rigid procurement [2] Monocrystalline Silicon - The price of silicon wafers remained stable, with N-type G10L at 1.18 CNY/piece, N-type G12R at 1.30 CNY/piece, and N-type G12 at 1.55 CNY/piece [4] - The stability in prices is supported by the proactive response of specialized silicon wafer companies to industry self-discipline and a recovering domestic component market driven by power market reforms [4] - The supply-demand relationship for G12R has improved significantly due to strong downstream purchasing demand, leading to price increases for G12R series batteries [4]