Chinese silicon metal prices to stabilize
2023-03-21 08:29:35 [Print]
BEIJING (Asian Metal) 21 Mar 23 - Depressed by the heavy stocks in the spot market, the current mainstream prices of silicon metal 5-5-3 in China dropped by RMB200/t (USD29/t) to RMB16,000-16,500/t (USD2,319-2,391/t) delivered to main port from late last week. Given the high production cost, insiders predict the mainstream prices of silicon metal 5-5-3 in China would keep stable this week.
A trader in Fujian revealed that a supplier in Yunnan insisted on RMB16,200/t (USD2,348/t) delivered to Huangpu for silicon metal 5-5-3 last Friday could accept RMB16,000/t (USD2,319/t) on Monday, while the trader didn't purchase yet. "I last purchased 100t at RMB16,500/t (USD2,392/t) two weeks ago, and most suppliers decreased prices by RMB200/t (USD29/t) again this week against late last week as the whole inventory in the market rolled up to around 200,000t in March," revealed the trader on Monday. He added that the current offers already turned lower than most suppliers' production cost except Xinjiang, and he predicts the mainstream prices of silicon metal 5-5-3 would keep stable this week upon the high production cost, and more and more plants prepare to stop production within March.
The trader, with a regular monthly trading volume of 500t of silicon metal, expects to sell around 200t at most in March, down by 300t from last month, holding no stocks.
A producer in Yunnan revealed that he sold 100t of silicon metal 5-5-3 at RMB16,000/t (USD2,319/t) delivered to Huangpu this week while he insisted on RMB16,300/t (USD2,363/t) late last week. "I prefer to stop production at the end of this month and decreased prices to destock this week," revealed the producer on Monday. He added that the environment protection supervision is conducting in Dehong, Yunnan this week, and some peers already stopped production temporarily this week, and he predicts the mainstream prices of silicon metal 5-5-3 in China would keep stable this week strengthened by the high production cost and more and more suspending-production plants in South China.
The producer, with an annual production capacity of 17,500t of silicon metal, expects to produce about 1,000t in March, down by 300t from last month, keeping around 1,500t in stock, and they prepare to stop production at the end of this month. The producer outputted about 12,000t in total last year and around 2,000t by far in 2023.
A trader in Fujian revealed that a supplier in Yunnan insisted on RMB16,200/t (USD2,348/t) delivered to Huangpu for silicon metal 5-5-3 last Friday could accept RMB16,000/t (USD2,319/t) on Monday, while the trader didn't purchase yet. "I last purchased 100t at RMB16,500/t (USD2,392/t) two weeks ago, and most suppliers decreased prices by RMB200/t (USD29/t) again this week against late last week as the whole inventory in the market rolled up to around 200,000t in March," revealed the trader on Monday. He added that the current offers already turned lower than most suppliers' production cost except Xinjiang, and he predicts the mainstream prices of silicon metal 5-5-3 would keep stable this week upon the high production cost, and more and more plants prepare to stop production within March.
The trader, with a regular monthly trading volume of 500t of silicon metal, expects to sell around 200t at most in March, down by 300t from last month, holding no stocks.
A producer in Yunnan revealed that he sold 100t of silicon metal 5-5-3 at RMB16,000/t (USD2,319/t) delivered to Huangpu this week while he insisted on RMB16,300/t (USD2,363/t) late last week. "I prefer to stop production at the end of this month and decreased prices to destock this week," revealed the producer on Monday. He added that the environment protection supervision is conducting in Dehong, Yunnan this week, and some peers already stopped production temporarily this week, and he predicts the mainstream prices of silicon metal 5-5-3 in China would keep stable this week strengthened by the high production cost and more and more suspending-production plants in South China.
The producer, with an annual production capacity of 17,500t of silicon metal, expects to produce about 1,000t in March, down by 300t from last month, keeping around 1,500t in stock, and they prepare to stop production at the end of this month. The producer outputted about 12,000t in total last year and around 2,000t by far in 2023.
