According to statistics, China's industrial silicon capacity in January was 797,610 tons, with an operational capacity of 351,220 tons, resulting in a capacity utilization rate of 44.03%. PriceSeek's analysis of industrial silicon indicates a bullish-bearish score: The capacity utilization rate of industrial silicon in November was only 44.03%, suggesting that the actual operational capacity is relatively low, which may lead to reduced supply. This is expected to support spot prices and benefit the spot market. In terms of futures, the main industrial silicon contract 2605 closed at 8,925 yuan per ton, up by 75 yuan, with an increase in open interest. This reflects the market's heightened expectations of supply tightness, further supporting an upward trend in futures prices.