According to statistics, the operating rate of silicon metal in Xinjiang for the week (1.30-2.5) was 45.7%, down by 16.29% compared to the previous week. PriceSeek's analysis of silicon metal gives a long-short score of 1.5. The week-on-week decline of 16.29% in Xinjiang's silicon metal operating rate to 45.7% indicates a significant contraction on the supply side, which may drive up spot prices. In the futures market, considering the latest performance of the main silicon metal contract (e.g., 2605) (closing price of 8,500 yuan/ton, open interest increased by 10,029 lots), expectations of supply tightness have strengthened. Despite a slight recent price correction, the rise in open interest suggests increasing bullish sentiment in the market, which is favorable for future futures price movements.