On January 9, the market price of 553# metallic silicon in the Tianjin region declined, with the reference price ranging around 9,100–9,200 yuan per ton, representing a decrease of 100 yuan per ton. PriceSeek’s analysis of metallic silicon indicates a bearish sentiment with a score of -1. The report highlights that the spot price of 553# metallic silicon in the Tianjin region dropped by 100 yuan per ton to approximately 9,100–9,200 yuan per ton on January 9, reflecting weak market demand or increased supply pressure, which generally exerts a bearish impact on spot prices. Considering the data from the industrial silicon futures market (for instance, the closing price of the 2605 contract on January 8 was 8,535 yuan per ton, down by 210 yuan), the decline in spot prices may reinforce the downward trend in the futures market, putting further pressure on futures prices. Given the strong correlation between spot and futures markets, signals of short-term demand insufficiency have intensified bearish sentiment.