Macro favorable policies have been continuously strengthened, and anti-internal competition policies have been steadily evolving. Firstly, the Ministry of Industry and Information Technology will implement a new round of growth-stimulating work plans for ten key industries such as steel, non-ferrous metals, and building materials. Yesterday, a document about the National Energy Administration organizing a verification of coal mine production conditions was released to the market. The news of "decapacity" in coal mines continued to trigger market reactions. Yesterday, coking coal strongly rose and closed at a涨停 price. Today， it continued to rise significantly， driving a resonance in the black metal sector. The futures prices of rebar and silicon iron were both on the rise. Silicon iron broke through the 6，000-point mark this morning， and factory quotations continued to rise， with quotations at 72# at 5，400-5，600 yuan per ton cash natural block for factory delivery， and 75# at 5，700-5，800 yuan per ton cash natural block for factory delivery. The quotations were up by 100-200 yuan per ton compared to yesterday. Large factories in Inner Mongolia have not yet quoted.

Regarding steel prices: Yesterday, a certain steel mill in Shandong set the price of silicon iron at 5,840 yuan per ton in cash, an increase of 350 yuan per ton compared to the previous round.

Regarding magnesium: Thanks to the notice from the National Energy Administration on promoting stable coal supply, coupled with the low inventory at the magnesium ingot factories, market confidence has been significantly boosted. Yesterday afternoon, the transaction volume gradually increased to 16,600 yuan. The existing supply at the factories has once again decreased. Today, the quotation of Fugou Magnesium Factory was directly raised to 16,800 - 17,000 yuan. The downstream response was mixed, and the high-price transactions still need to be followed up.

Overall: Since the country proposed measures to combat internal overcapacity, and with successive policy enhancements, the price of silicon iron on the market has risen by approximately 500 points. The spot price has also followed suit, improving the profits of manufacturers. Going forward, we will continue to closely monitor the news related to the black sector. Once the profit of silicon iron increases, we expect more manufacturers to resume production.