This week, industrial silicon futures extended their declines, with spot prices fully catching up on the downside.

This week, the industrial silicon market shifted from last week's "futures-spot divergence" to "futures and spot weakening in tandem." The main futures contract accelerated its decline, while spot prices, after holding steady for two consecutive weeks, underwent a broad catch-up decline. Last week's equilibrium of "spot prices locked in a standoff near the cost line" was broken, indicating that weakening demand has begun to force spot pricing downward. In terms of drivers, this downward move stems from the resonance of "weakening cost support" and "realized demand suppression": falling prices of raw materials such as coking coal have loosened cost support, which, combined with the suppression of purchasing from polysilicon production cuts, jointly pushed the price center lower.