On November 10th, the concept of organosilicon strengthened. As of the close, Dongyue Silicon Materials led the way up 14.94%, while Sanfu Co., Ltd. and Luxi Chemical hit the daily limit up, while companies such as Runhe Materials, Hesheng Silicon Industry, Xin'an Co., Ltd., and Hengxing Technology rose 4-6%. At present, domestic production capacity has reached its peak, overseas production capacity may withdraw, and the impact of real estate is weakening. The strong demand for photovoltaics and new energy vehicles is driving double-digit growth in domestic consumption, and the organic silicon industry is entering a turning point. Entering the middle of the year, the organic silicon market is showing a stable price situation. After experiencing a phased replenishment at the beginning of the month, downstream enterprises are now returning to the mode of essential procurement. In the light trading atmosphere, individual factories still have support. On the one hand, with the stable operation of major manufacturers and the support of pre-sale orders in the early stage, prices continue to rise; On the other hand, this week's meeting is about to be held, and the sentiment of individual factories to raise prices is high. Some actual transactions have moved up, and there is a phenomenon of low price limit. Coupled with yesterday's sharp rise in the capital market, confidence has been boosted, and upstream stable and exploratory operations are eager to try. Overall, some individual factories have resumed production one after another, and the actual increase in production still poses a huge challenge to collective price hikes. If the meeting can release substantial production cuts or policy benefits, the operation of stabilizing and exploring price increases is expected to be accepted by the middle and lower reaches. On the contrary, it is difficult to achieve an effective rebound in the short term, and it is necessary to closely monitor changes in individual factory production capacity in the future. Industrial silicon: In terms of supply, Yunnan and Sichuan regions have entered a dry season, and the rise in electricity prices has led to some enterprises shutting down their furnaces. At the same time, large factories in Xinjiang have also reduced their burdens, and it is expected that the number of furnaces opened will significantly decrease. In terms of demand, downstream polycrystalline silicon production is showing a trend of "decreasing in the south and increasing in the north", with overall production capacity slightly reduced compared to last month; At the beginning of the month, the demand in the field of organosilicon remained relatively stable, with overall demand being average. Overall, the recent acceleration of warehouse receipt cancellations and the depletion of spot inventory indicate that downstream companies are actively stocking up during the dry season, which has to some extent eased inventory pressure and led to an increase in spot prices. As of November 10th, the closing price of the main futures contract Si2601 was 9290 yuan/ton, an increase of 120 yuan; The spot price for 421 # metal silicon is 9800-10200 yuan/ton, with some prices rising by 100 yuan. In the future, due to the overall weak fundamentals, the industrial silicon market is likely to maintain a volatile pattern in the context of weak supply and demand, and the game between cost and demand. In terms of operating rate: Recently, some units have continued to reduce production load, and the overall operating rate has rebounded to around 70%; Due to the lack of synchronous follow-up on the demand side, market feedback is relatively flat, and supply pressure is high. In the future, in order to continue raising prices, it is expected that more individual factories will rejoin the maintenance team, and the industry may enter a new round of capacity adjustment. On the demand side: Against the backdrop of strong supply and weak demand, midstream and downstream enterprises generally face the dilemma of insufficient confidence to keep up with rising prices and slow destocking. Due to the lack of significant improvement in the end consumer market, the bargaining space in the midstream and downstream is relatively passive, and the risk of losses is increasing. Purchasing behavior is becoming increasingly cautious, and they are holding onto essential needs for replenishment in multiple dimensions. From the perspective of the "Double Eleven" event, just like the "Golden September and Silver October" in the silicone industry, consumer enthusiasm has been declining year by year. At present, low-priced shipments of high-temperature adhesive are still acceptable, while new orders for silicone adhesive are limited. Enterprises mainly focus on maintaining core customers. However, in recent days, several real estate companies have made significant progress in debt restructuring, accelerating the process of clearing industry risks. Overall, the current organic silicon market is still under sustained pressure, and as the end of the year approaches, there will be significant pressure on downstream payments in the fourth quarter, with limited demand support. To enhance the bullish confidence of the downstream market and stimulate their stocking sentiment, individual factories need to work together to find solutions and implement them. In short, to truly overcome industry difficulties, it still relies on the joint efforts and continuous exploration of all parties in the industry chain, gradually exploring a healthy development path that adapts to market reality.