Chinese silicon metal market fulfills bearish sentiment
2023-03-13 09:09:44 [Print]
BEIJING (Asian Metal) 13 Mar 23 - Dragged by the sluggish demand but supported by the high production cost, the current mainstream prices of silicon metal 5-5-3 in China softly hover at RMB16,500-17,000/t (USD2,379-2,452/t) delivered to port, almost unchanged from late last week, while last week some traders holding stocks marked prices down further to destock, and insiders predict the mainstream prices of silicon metal 5-5-3 in China still have room to go down this week upon the heavy stock in the market.
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 a regular producer, almost unchanged from the producer's price last Thursday upon the high production cost, but some traders who holding stocks could accept RMB16,400/t (USD2,365/t) or could consider even lower prices for firm bids, but he didn't purchase yet as he didn't get new orders from overseas clients in March. "I last purchased 100t at RMB16,700/t (USD2,480/t) early last week, and some traders marked prices down late this week upon their heavy stocks and no signal for demand to resurge at the moment," revealed the trader last Friday . He added that there are at least 50,000t of stockpiles in Kunming port, and he predicts the mainstream prices of silicon metal 5-5-3 in China would move down slightly this week upon the heavy stock in the market.
The trader, with a regular monthly trading volume of 1,000t of silicon metal, expects to sell around 500t at most in March, down by about 500t from last month dragged by the sluggish downstream demand, keeping no stocks.
A producer in Yunnan disclosed that he currently offers RMB16,700/t (USD2,408/t) delivered to Huangpu port with no discount for silicon metal 5-5-3, in line with his price last Thursday, but he could hardly get new orders now. "Almost all of my client asked prices lower than RMB16,500/t (USD2,379/t) as they could get the similar prices from traders who having stocks now," revealed the producer last Friday who last sold 100t at RMB16,700/t (USD2,408/t) early last week. He added that his production cost of silicon metal 5-5-3 hovers at RMB16,500/t (USD2,379/t) delivered to Huangpu, and he currently struggles to maintain the production . He foresees the mainstream prices of silicon metal 5-5-3 in China would be dragged down upon the heavy stocks from traders and producers this week.
The producer, with an annual production capacity of 22,000t of silicon metal, expects to produce around 900t in March with one out of two furnaces of 15,000kVA in operation, down by about 900t from last month as they plan to stop production at the end of this month, holding around 800t in stock.
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 a regular producer, almost unchanged from the producer's price last Thursday upon the high production cost, but some traders who holding stocks could accept RMB16,400/t (USD2,365/t) or could consider even lower prices for firm bids, but he didn't purchase yet as he didn't get new orders from overseas clients in March. "I last purchased 100t at RMB16,700/t (USD2,480/t) early last week, and some traders marked prices down late this week upon their heavy stocks and no signal for demand to resurge at the moment," revealed the trader last Friday . He added that there are at least 50,000t of stockpiles in Kunming port, and he predicts the mainstream prices of silicon metal 5-5-3 in China would move down slightly this week upon the heavy stock in the market.
The trader, with a regular monthly trading volume of 1,000t of silicon metal, expects to sell around 500t at most in March, down by about 500t from last month dragged by the sluggish downstream demand, keeping no stocks.
A producer in Yunnan disclosed that he currently offers RMB16,700/t (USD2,408/t) delivered to Huangpu port with no discount for silicon metal 5-5-3, in line with his price last Thursday, but he could hardly get new orders now. "Almost all of my client asked prices lower than RMB16,500/t (USD2,379/t) as they could get the similar prices from traders who having stocks now," revealed the producer last Friday who last sold 100t at RMB16,700/t (USD2,408/t) early last week. He added that his production cost of silicon metal 5-5-3 hovers at RMB16,500/t (USD2,379/t) delivered to Huangpu, and he currently struggles to maintain the production . He foresees the mainstream prices of silicon metal 5-5-3 in China would be dragged down upon the heavy stocks from traders and producers this week.
The producer, with an annual production capacity of 22,000t of silicon metal, expects to produce around 900t in March with one out of two furnaces of 15,000kVA in operation, down by about 900t from last month as they plan to stop production at the end of this month, holding around 800t in stock.