China's Silicon Prices Continue to Fall Due to Sluggish Demand
Demand for silicon metal was sluggish both at home and abroad. Although enquiries increased, actual transactions were few. In addition, the electricity price adjustment policies at main producing regions were not clear, and most market participants still adopted a wait-and-see attitude with strong short position sentiment. In this context, prices of silicon metal continued to fall in the 2H this week. SMM mainstream offers at Huangpu port were between RMB 11,600-12,000/mt for #553 silicon metal, between RMB 12,300-12,600/mt for #441 silicon metal, between RMB 13,100-13,500/mt for #3303 silicon metal and between RMB 14,000-14,400/mt for #2202 silicon metal.

Domestic silicon metal market still focused on the electricity prices to be adjusted in June, and any release of policies regarding the electricity price adjustment shall have decisive impact on silicon metal production resumption, especially the production in southwest China. SMM believes that silicon metal market participants will continue to adopt a wait-and-see attitude in the short term, and market movement is closed related to the recovery of downstream purchasing demand.

 

 

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