Silicon Industry Branch: Stalemate game between upstream and downstream, industrial silicon prices stable.

The silicon industry branch issued a document stating that the overall spot price of industrial silicon remained stable this week. In the past week (September 12th to 18th), the closing price of the main contract 2411 fluctuated from 9735 yuan/ton to 9665 yuan/ton, a decrease of 0.72%. The national comprehensive prices and various brand comprehensive prices remained stable, as well as FOB prices. The spot market for industrial silicon was relatively sluggish this week, with manufacturers not showing a high willingness to reduce prices under cost pressure, and the upstream and downstream sectors in a stalemate game, with mainstream spot prices remaining stable. On the supply side, the opening of furnaces in the northern region is stable, while in the southwest region, the rainy season is nearing an end, coupled with a downturn in the market, leading to expectations of a decrease in operations. Currently, overall production remains stable. On the demand side, the production of organosilicon remains at a high level, with new production capacity expected to be put into operation in the future, resulting in a slight increase in demand for industrial silicon. Polysilicon companies are producing steadily and purchasing industrial silicon as needed. Aluminum alloy plants are operating steadily, with a small amount of industrial silicon purchased and overall demand relatively stable. In terms of pricing, downstream consumption of organosilicon is recovering slowly, with low acceptance of high prices, and prices remaining stable overall. Polysilicon first-tier factories are showing a strong willingness to hold prices and have successful price increases. The overall supply and demand fundamentals of industrial silicon are weak, with a slightly loose supply and no clear improvement in demand, lacking support for upward price movements. According to data from the Guangzhou Futures Exchange, the warehouse receipts for today are 305,900 tons, with warehouse receipts consistently decreasing recently, but overall industrial silicon inventory remains high, putting pressure on spot prices. It is expected that spot prices will remain relatively stable with slight fluctuations in the short term.