Morgan Stanley: Tesla vehicles in Use to See Explosive Growth 

[Harga spot silikon metal menguat tipis dalam kisaran sempit sebelum stabil]: Pada awal Agustus, kontraksi pasokan akibat pemangkasan produksi di perusahaan-perusahaan silikon di sisi pasokan dan faktor pendorong kenaikan harga dari kebijakan PV telah terealisasi secara bertahap. Kontrak berjangka silikon metal beralih ke konsolidasi kisaran sempit setelah harga naik. Pada Agustus, fundamental membaik, dengan support kuat di bawah harga yang membatasi ruang penurunan. Di sisi atas, tanpa katalis positif baru, momentum kenaikan tidak cukup untuk menghasilkan reli berkelanjutan, dan tarik-menarik antara posisi beli dan jual dapat menggeser harga menuju konsolidasi.

[Tinjauan Mingguan Silikon SMM: Pesanan Permintaan Kaku Hilir Berlanjut, Harga Produk Silikon Terus Menguat] Minggu ini, level harga DMC silikon Tiongkok naik, dengan kuotasi 13.000-13.500 yuan/ton. Ekspektasi pemangkasan produksi bersama industri, ditambah tindak lanjut pesanan permintaan kaku hilir, mendorong perusahaan monomer silikon menaikkan kuotasi, dan pasokan harga murah di pasar berkurang. Dari sisi pasokan, rencana pemangkasan produksi bersama 50% yang ditetapkan pada pertemuan industri Agustus terus berjalan, tetapi intensitas implementasi bervariasi antarperusahaan, dan tingkat utilisasi pada awal Agustus tetap di atas 60%. Terkait penerimaan pesanan oleh perusahaan monomer, saat ini mereka memiliki pesanan prajual yang cukup dan tanpa tekanan penjualan, dengan pesanan prajual beberapa perusahaan sudah terisi hingga awal September; pesanan prajual industri bervariasi dari akhir Agustus hingga awal September. Stok siloksan perusahaan monomer berada di level rendah, dan perusahaan umumnya memiliki sentimen bullish. Secara keseluruhan, level harga DMC Tiongkok jangka pendek diperkirakan naik bertahap dari 13.000 yuan/ton menjadi sekitar 13.500 yuan/ton.

[SMM Analysis] Futures Weakness and Sluggish Off-Season Demand; Stainless Steel Inventory Posts Slight Buildup and Remains Stable on Limited Arrivals SMM, August 13 – This week, stainless steel social inventory shifted from prior destocking to a slight buildup, with the overall inventory level basically stable and off-season inventory pressure rising at the margin. Total inventories in the two core markets of Wuxi and Foshan edged up from 915,200 mt on August 6, 2026, to 915,900 mt in the latest period, up 0.08% WoW. The buildup was modest, and overall inventory maintained a stable trend. This week, the stainless steel market continued to follow the traditional off-season pattern. Early recovery signals ahead of the September-October peak season had yet to emerge, and rigid demand from end-users remained weak. During the week, SS futures pulled back repeatedly. Wait-and-see sentiment strengthened among traders and downstream users, and most downstream end-users maintained a need-based, hand-to-mouth purchasing pattern. Spot transactions in the market were generally weak, and the destocking efficiency of cargoes was low, creating the core fundamental pressure behind the inventory buildup. On the supply and distribution side, there were temporary offsetting factors. At the beginning of this week, weather disruptions from Typhoon Dolphin constrained logistics shipments and the pace of spot arrivals in east China. The pace of market supply replenishment slowed, effectively offsetting the incremental buildup caused by weak demand, leaving social inventory only slightly higher this week and broadly stable overall. Overall, weak end-use demand in the off-season and weaker futures that dragged on market transactions were the core causes of this week's slight inventory buildup. Meanwhile, typhoon-related disruptions reduced arrivals and effectively curbed any sharp inventory accumulation, ultimately resulting in a slight buildup with overall stability. At this stage, the off-season fundamentals of stainless steel still dominate the market, and end-use demand shows no signs of recovery yet...