Silicon Metal Market Maintains Weak Performance

In the Shanghai market, # 441 silicon metal was mainly traded at RMB 13,000/mt, and some traders were also willing to move goods at RMB 12,950/mt, but daily inquiries were few; # 553 silicon metal was purchased by downstream silicon powder producers at RMB 12,400/mt, but offers from supplier continued to decline, leading to lower purchasing interest from downstream consumers.
In the Yunnan market, producers were still busy in the process of electricity bidding. Currently, electricity prices were around RMB 0.4/kWh, but silicon prices will be relatively stable along with increased costs caused by advanced electricity prices.

According to sources from Japan, prices for imported silicon metal continued to advance in Japanese market. Prices CIF Japan of silicon metal imported from China were at USD 22,000/mt in the early December in Japanese market, and prices CIF Japan are expected to reach CIF 25,000/mt in the near future. Imported volumes of silicon metal from China decreased by 50% YoY from January to October in Japanese market, so inventories level almost touched the bottom line both at consumers and traders' stock. In addition, China's output decline of silicon metal will definitely force Janpanese downstream consumers to accept  higher prices.

SMM believes, silicon metal market will continue to fluctuate weakly in the future, and market supply will be relatively ample as more and more cargo holders are willing to move goods.

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