bestfreecryptogamestomakemoney| Industrial silicon futures prices have increased upward resistance: High inventories and reduced demand affect long-term trends

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Industrial silicon prices continue to risebestfreecryptogamestomakemoney, market volatility intensifies

May 23bestfreecryptogamestomakemoney, industrial silicon futures prices have climbed for several consecutive days, and market volatility has increased. On May 22, the SI2407 contract hit an intraday high of 12450 yuan/ton in nearly two months.

Guoxin Futures analysis pointed out that the recent rise in industrial silicon futures prices is mainly driven by the multi-round effect of commodities. Despite the strong performance of the futures market, spot trading was flat and there was insufficient motivation for price increases.

Chang 'an Futures analysts mentioned that high industrial silicon inventories and insufficient de-chemical momentum have led to continued growth in industry inventories. Although the technical aspect is now "double bottom", upward pressure will increase in the short term and long-term support will be weak.

The Guangzhou Futures Review pointed out that the current supply of industrial silicon is increasing while demand is decreasing. Supply easing may intensify. Coupled with the accumulation of inventories, it is expected that futures prices will have limited room for rebound, and there is a greater possibility of a weak and volatile trend.

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