According to incomplete statistics, as of the end of December, 12 out of 148 industrial silicon submerged arc furnaces in Yunnan were in operation, a decrease of 5 units month-on-month, with an operating rate of approximately 8.1%, down by 3.39 percentage points month-on-month. PriceSeek's analysis of industrial silicon indicates a long-short score of 1.5. The operating rate of industrial silicon submerged arc furnaces in Yunnan decreased by 3.39 percentage points month-on-month to 8.1%, with the number of operating furnaces reduced by 5 units, indicating a significant tightening of supply. This is favorable for the spot price of industrial silicon, as reduced supply may drive up market quotations. Combined with industrial silicon futures data (such as the closing price of the main contract 2605 at 8,715 yuan/ton, and changes in open interest indicating active market participation), expectations of supply contraction are expected to support an upward trend in futures prices. The positive fundamentals may drive a rebound in the contract.