Chinese silicon metal demand weakening
2023-03-21 08:29:30 [Print]
BEIJING (Asian Metal) 21 Mar 23 - Depressed by the lower consumption from aluminum plants, the current mainstream prices of silicon metal 4-4-1 in China edged down by RMB200/t (USD29/t) to RMB16,800-17,300/t (USD2,435-2,508/t) delivered this week from late last week. As more and more suppliers prefer to stop production, insiders foresee the mainstream prices of silicon metal 4-4-1 in China would stop falling and go steady this week.
A trader in Fujian disclosed that one of his regular clients usually purchase 500t every time but only purchased 200t this time upon their curtailed consumption. "I sold 200t of silicon metal 4-4-1 at RMB16,900/t (USD2,450/t) delivered to Guangzhou on Monday, down by RMB200/t (USD29/t) from my price late last week," revealed the trader on Monday. He added that his aluminum clients decreased consumption and his suppliers also prepared to suspend production and decreased prices to decrease stocks this week. As silicon metal producers will stop production one after another, he predicts the mainstream prices of silicon metal 4-4-1 in China would keep stable in the following week.
The trader, with a regular monthly trading volume of 1,000t of silicon metal, expects to sell around 600t at most in March, down by 300t from last month, keeping no stocks.
A consumer in Chongqing disclosed that they could consume around 4,000t every month but at most 3,000t in March dragged by the sluggish demand of their ending products from auto industry. "We purchased 300t of silicon metal 4-4-1 at RMB17,000/t (USD2,464/t) delivered T/T 30 days on Monday from a supplier who insisted on RMB17,200/t (USD2,493/t) late last week," revealed the consumer on Monday. He added that HOSCHINE seems like to turn reluctant to move price down further as more and more suppliers in other provinces prepare to stop production at the end of this month, and he predicts the mainstream prices of silicon metal 4-4-1 in China would flatten out this week.
The consumer, based on an annual consumption capacity of 50,000t of silicon metal, expects to use about 3,000t at most in March, down by about 1,000t from last month, holding around 3,000t in stock.
A trader in Fujian disclosed that one of his regular clients usually purchase 500t every time but only purchased 200t this time upon their curtailed consumption. "I sold 200t of silicon metal 4-4-1 at RMB16,900/t (USD2,450/t) delivered to Guangzhou on Monday, down by RMB200/t (USD29/t) from my price late last week," revealed the trader on Monday. He added that his aluminum clients decreased consumption and his suppliers also prepared to suspend production and decreased prices to decrease stocks this week. As silicon metal producers will stop production one after another, he predicts the mainstream prices of silicon metal 4-4-1 in China would keep stable in the following week.
The trader, with a regular monthly trading volume of 1,000t of silicon metal, expects to sell around 600t at most in March, down by 300t from last month, keeping no stocks.
A consumer in Chongqing disclosed that they could consume around 4,000t every month but at most 3,000t in March dragged by the sluggish demand of their ending products from auto industry. "We purchased 300t of silicon metal 4-4-1 at RMB17,000/t (USD2,464/t) delivered T/T 30 days on Monday from a supplier who insisted on RMB17,200/t (USD2,493/t) late last week," revealed the consumer on Monday. He added that HOSCHINE seems like to turn reluctant to move price down further as more and more suppliers in other provinces prepare to stop production at the end of this month, and he predicts the mainstream prices of silicon metal 4-4-1 in China would flatten out this week.
The consumer, based on an annual consumption capacity of 50,000t of silicon metal, expects to use about 3,000t at most in March, down by about 1,000t from last month, holding around 3,000t in stock.
