houseoffuncoins| Industrial silicon-Silicon materials are not well removed from the warehouse, resulting in accumulated warehouse pressure

Industrial silicon spot operations were temporarily stable last week. In terms of industry, the southern region has gradually entered a flood season, and the number of furnaces opened has increased. Some silicon companies in the north have recently transferred profits to the downstream, and their prices have been slightly lowered by about 100-200 yuan/ton. The transaction prices of some sources of low-grade silicon have weakened. On the demand side, according to SMM data, polysilicon output in April was 18.houseoffuncoins.120,000 tons, the industry has generally entered a loss. New silicon production capacity has been put into production and is climbing. The current overall supply has not changed much month-on-month. The demand for raw material procurement is limited. Downstream companies have poor profits and lack the willingness to hoard goods, and maintain a small amount of multiple on-demand purchases. Looking at this week: Many polysilicon companies are undergoing maintenance, and the overall output in May is expected to decrease. Moreover, the removal of silicon materials to the warehouse is not smooth, and there is pressure from the warehouse, and procurement demand will shrink; the start of organic silicon and aluminum alloy companies is basically stable, focusing on on-demand procurement. Electricity bills will decline during the flood season, and the start-up of silicon companies in the south will continue to increase. Supply is still expected to increase despite high inventories. The pressure on industrial silicon supply and demand will continue, and the pressure above prices will be greater. Technically, the main contract of industrial silicon fluctuates and is weak, the multi-day moving average is in a short position, and the fundamentals have not improved significantly. Operationally, it is recommended to continue to treat it with the idea of selling short positions on highs, and investors are advised to pay attention to risk control.

Researcher: Cai Yuehui

Futures qualification number: F0251444

Futures investment consulting certificate number: 20013101

Assistant Researcher: Li Qiurong

Futures qualification number: F03101823


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