This week, the industrial silicon market changed from last week's “futures split” to “simultaneous weakening of futures”. The main futures contract declined at an accelerated pace, and spot stocks made up for the full decline after being stable for two consecutive weeks. The “spot close to the cost line standoff” equilibrium was broken last week, indicating that weak demand has begun to force spot pricing to revise downward. Looking at the driving factors, this round of downturn is due to the resonance of “weakening cost support” and “demand suppression and fulfillment”: falling prices of raw materials such as coking coal have loosened cost support, compounded by reduced production of polysilicon, which suppresses procurement. Together, the two have lowered the price focus.

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