Raw Material Costs Pushing up Domestic Silicon Prices

Offers of silicon metal climbed all the way in Huangpu port, with prices of #553 silicon metal exceeding RMB 12,000/mt. Offers from producers in Guizhou province were in the RMB 12,100-12,200/mt range, offers from producers in Fujian province were at RMB 12,300/mt and offers from producers in Chongqing and Hunan were in the RMB 11,900-12,100/mt range. Prices of #3303 silicon metal climbed from RMB 13,000/mt earlier this week to RMB 13,200/mt and some traders even kept offers at RMB 13,500/mt.

Although offers of silicon metal climbed all the way, transactions were not brisk in spot market, and current firm offers were supported by costs. SMM believes silicon metal prices still have to room to rise further.

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