According to the market monitoring system analysis from Business Society, on February 9, 2026, the domestic market price of metal silicon #441 was referenced at 9,650 yuan per ton, remaining essentially unchanged compared to February 1. Compared to January 1 (when the market price of metal silicon #441 was 9,6520 yuan per ton), the price increased by 30 yuan per ton, representing a rise of 0.31%.

Supply-Demand Dynamics Remain Loose; Metal Silicon #441 Market Experienced Volatility in Early February
In early February (February 1 to February 9), the domestic market price of metal silicon #441 exhibited a fluctuating trend of "rising first and then falling." From February 1 to 3, market trading was moderate, with the price of metal silicon #441 stabilizing at 9,650 yuan per ton. On February 4, supply reductions in some regions led to a slight increase in metal silicon prices, with adjustments ranging from 10 to 50 yuan per ton. By February 9, amid continued loose supply-demand conditions, prices for certain grades of metal silicon experienced a slight decline. As of February 9, the market price of metal silicon #441 in East China was referenced at 9,300–9,600 yuan per ton, while in the Kunming region, the price remained relatively stable.

Fundamental Analysis
Supply Side: Currently, as the Spring Festival approaches, operating rates in the southwestern production regions (Sichuan and Yunnan) remain low, with most manufacturers halting production, leading to a contraction in supply. Some enterprises in Xinjiang, Inner Mongolia, and other regions have conducted early maintenance or reduced production due to losses, further tightening market supply and supporting a slight price increase in early February. However, the transmission of supply adjustments has been generally slow, causing market conditions to fluctuate and decline subsequently.

Demand Side: Previously, some downstream enterprises conducted pre-holiday stockpiling to prepare for production halts during the holiday period, which helped maintain basic price stability in the market during the holiday. However, at present, pre-holiday stockpiling by downstream enterprises has largely concluded. Demand from downstream industries such as polysilicon and organic silicon remains relatively weak, with low purchasing willingness, thereby limiting upward price movement.

Future Market Analysis
As the Spring Festival holiday concludes in late February, downstream enterprises will gradually resume production and operations, with procurement demand expected to steadily increase. However, the resumption of production in major producing regions may require some time, and market supply is likely to remain tight in the short term. It is anticipated that metal silicon prices may continue to exhibit a fluctuating upward trend after the holiday.