Chinese silicon metal prices down
2023-03-09 08:30:09 [Print]
BEIJING (Asian Metal) 9 Mar 23 - Dragged by the remaining inactive market, the current mainstream prices of silicon metal 5-5-3 in China edged down by RMB200/t (USD29/t) to RMB16,500-17,000/t (USD2,39-2,452/t) delivered to port from early this week. Given the high production cost, insiders predict the mainstream prices of chemical silicon metal 5-5-3 in China would keep stable next week.
A trader in Fujian disclosed that he could access RMB16,500/t (USD2,379/t) delivered to Huangpu for firm bids of silicon metal 5-5-3 from both of his two regular suppliers who insisted on RMB16,700-16,800/t (USD2,408-2,423/t) since early this week, but he keeps waiting now. "I last purchased 500t at RMB16,500/t (USD2,39/t) in the middle of February, and I could hardly close deals after the price increase in late February dragged by the sluggish demand, so I didn't purchase after last deal," revealed the trader on Wednesday. He added that the current prices already turned lower than most producers' production cost, and he plans to buy some amount this week and predicts the mainstream prices of silicon metal 5-5-3 in China would keep stable next week.
The trader, with a regular monthly trading volume of 500t of silicon metal, expects to sell around 200t in March, down by 100t from last month, holding around 300t in stock.
A producer in Yunnan disclosed that he sold 100t of silicon metal 5-5-3 at RMB16,300/t (USD2,351/t) delivered to Kunming on Thursday, equaling to RMB16,600/t (USD2,394/t) to Huangpu on Thursday, down by RMB200/t (USD29/t) from his price on Monday. "The demand turned sluggish, and we will stop production at the end of this month upon the gloomy market and meager profit," revealed the producer on Thursday. He added that his current production cost hovers at RMB16,500/t (USD2,379/t) EXW, and he predicts the mainstream prices of silicon metal 5-5-3 would keep stable next week upon the high production cost.
With an annual production capacity of 17,200t of silicon metal, the producer expects to produce around 700t in March with one of its two furnaces of 12,500kVA in operation, down by about 700t from last month, holding around 800t in stock. Local electricity charge stays at RMB0.42/kWh (USD0.07/kWh), and they need to consume around 13,000kWh of electricity to produce 1t of silicon metal. The producer outputted about 14,000t in 2022 and around 2,500t by far in 2023.
A trader in Fujian disclosed that he could access RMB16,500/t (USD2,379/t) delivered to Huangpu for firm bids of silicon metal 5-5-3 from both of his two regular suppliers who insisted on RMB16,700-16,800/t (USD2,408-2,423/t) since early this week, but he keeps waiting now. "I last purchased 500t at RMB16,500/t (USD2,39/t) in the middle of February, and I could hardly close deals after the price increase in late February dragged by the sluggish demand, so I didn't purchase after last deal," revealed the trader on Wednesday. He added that the current prices already turned lower than most producers' production cost, and he plans to buy some amount this week and predicts the mainstream prices of silicon metal 5-5-3 in China would keep stable next week.
The trader, with a regular monthly trading volume of 500t of silicon metal, expects to sell around 200t in March, down by 100t from last month, holding around 300t in stock.
A producer in Yunnan disclosed that he sold 100t of silicon metal 5-5-3 at RMB16,300/t (USD2,351/t) delivered to Kunming on Thursday, equaling to RMB16,600/t (USD2,394/t) to Huangpu on Thursday, down by RMB200/t (USD29/t) from his price on Monday. "The demand turned sluggish, and we will stop production at the end of this month upon the gloomy market and meager profit," revealed the producer on Thursday. He added that his current production cost hovers at RMB16,500/t (USD2,379/t) EXW, and he predicts the mainstream prices of silicon metal 5-5-3 would keep stable next week upon the high production cost.
With an annual production capacity of 17,200t of silicon metal, the producer expects to produce around 700t in March with one of its two furnaces of 12,500kVA in operation, down by about 700t from last month, holding around 800t in stock. Local electricity charge stays at RMB0.42/kWh (USD0.07/kWh), and they need to consume around 13,000kWh of electricity to produce 1t of silicon metal. The producer outputted about 14,000t in 2022 and around 2,500t by far in 2023.
