Monthly Silicon Metal Market Report Jan 2019
2019-02-13 18:04:24 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
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1. Market Highlights
In domestic market, downstream users all purchased silicon metal in advance due to the coming Spring Festival. They replenished stocks from late December 2018 to mid-January 2019 for the production after the holiday. Producers received more orders, and the spot products started to reduce. Transactions in the domestic market still remained at high levels in the second two weeks of January. As purchasers finished replenishing stocks, the market started to see fewer transactions from mid-January. Traders mainly arrange the delivery of concluded orders and signed limited new orders. Most traders held back from selling and were willing to hold quotations firm due to the reduced stocks. Some producers in normal production sold parts of their stocks at low prices before the Spring Festival to recoup funds in consideration of the weak downstream demand. Many producers who suspended or cut production held back from selling. In late January, despite the reducing stocks, the overall silicon metal prices were stable, which were favorable to promote transactions. In the international market, overseas traders began return to the market after Christmas Day, so the market saw more enquiries. They replenished stocks intensively in the first half of January as Chinese suppliers would left the market for the Spring Festival holiday soon. With the appreciation of RMB, the export prices rose slightly. In the second half of the month, transactions in spot market reduced, and the overseas consumers mainly signed long-term orders. As enquiries increased and the Spring Festival is coming, exporters stopped to accept orders and held back from selling.
In domestic market, downstream users all purchased silicon metal in advance due to the coming Spring Festival. They replenished stocks from late December 2018 to mid-January 2019 for the production after the holiday. Producers received more orders, and the spot products started to reduce. Transactions in the domestic market still remained at high levels in the second two weeks of January. As purchasers finished replenishing stocks, the market started to see fewer transactions from mid-January. Traders mainly arrange the delivery of concluded orders and signed limited new orders. Most traders held back from selling and were willing to hold quotations firm due to the reduced stocks. Some producers in normal production sold parts of their stocks at low prices before the Spring Festival to recoup funds in consideration of the weak downstream demand. Many producers who suspended or cut production held back from selling. In late January, despite the reducing stocks, the overall silicon metal prices were stable, which were favorable to promote transactions. In the international market, overseas traders began return to the market after Christmas Day, so the market saw more enquiries. They replenished stocks intensively in the first half of January as Chinese suppliers would left the market for the Spring Festival holiday soon. With the appreciation of RMB, the export prices rose slightly. In the second half of the month, transactions in spot market reduced, and the overseas consumers mainly signed long-term orders. As enquiries increased and the Spring Festival is coming, exporters stopped to accept orders and held back from selling.
