Chinese high grade silicon metal prices barely have room to go down
2023-03-23 08:24:14 [Print]
BEIJING (Asian Metal) 23 Mar 23 - Dragged by the sluggish demand, the current mainstream prices of high-grade silicon metal 3-3-03 in China edge down by RMB200/t (USD29/t) to RMB17,000-17,500/t (USD2,473-2,546/t) delivered to main port from early this week. As more and more producers stopped production, insiders foresee the mainstream prices of silicon metal 3-3-03 in China would stop falling and keep stable next week.
"For firm bids of silicon metal 3-3-03, I could accept RMB16,500/t (USD2,401/t) EXW D/P which means RMB17,000/t (USD2,473/t) delivered to Huangpu with no more discount, while I insisted on RMB17,300/t (USD2,517/t) delivered to Huangpu on Monday," revealed a producer in Yunnan on Wednesday. He added that he last sold 100t at RMB17,800/t (USD2,590/t) to Huangpu early last week, and he didn't close any deals this week even though he moved prices down these two days, and he will stop production at the end of this month as the current price already became about RMB500/t (USD72/t) lower than production cost, and he predicts the mainstream prices of silicon metal 3-3-03 in China would go steady next week.
The producer, based on an annual production capacity of 17,800t of silicon metal, owns two furnaces of 12,500kva in total with both running now and expects to produce about 1,000t in March, down by around 400t from last month, holding around 1,000t in stock.
Another producer in Yunnan disclosed that he couldn't accept any prices lower than RMB17,000/t (USD2,473/t) delivered to Kunming for silicon metal 3-3-03, down by RMB200/t (USD29/t) from his price on Monday, and he would prefer to stop production if the price slipped down below RMB17,000/t (USD2,473/t). "I last sold 60t at RMB17,500/t (USD2,546/t) two weeks ago, and all of my clients stopped purchases upon the straight falling prices this week," revealed the producer on Wednesday. He emphasized that three more silicon metal 3-3-03 plants as his neighbor in Yunnan stopped production this week and more peers would stop at the end of this month upon the heavy production cost pressure, and he foresees that some downstream demand would be released next week and prices of silicon metal 3-3-03 in China would keep stable next week.
The producer, based on an annual production capacity of 35,600t of silicon metal, owns four furnaces of 12,500kva in total with two out of four running now, and predicts to produce about 1,400t in March, down by around 600t from last month, holding around 1,000t in stock.
"For firm bids of silicon metal 3-3-03, I could accept RMB16,500/t (USD2,401/t) EXW D/P which means RMB17,000/t (USD2,473/t) delivered to Huangpu with no more discount, while I insisted on RMB17,300/t (USD2,517/t) delivered to Huangpu on Monday," revealed a producer in Yunnan on Wednesday. He added that he last sold 100t at RMB17,800/t (USD2,590/t) to Huangpu early last week, and he didn't close any deals this week even though he moved prices down these two days, and he will stop production at the end of this month as the current price already became about RMB500/t (USD72/t) lower than production cost, and he predicts the mainstream prices of silicon metal 3-3-03 in China would go steady next week.
The producer, based on an annual production capacity of 17,800t of silicon metal, owns two furnaces of 12,500kva in total with both running now and expects to produce about 1,000t in March, down by around 400t from last month, holding around 1,000t in stock.
Another producer in Yunnan disclosed that he couldn't accept any prices lower than RMB17,000/t (USD2,473/t) delivered to Kunming for silicon metal 3-3-03, down by RMB200/t (USD29/t) from his price on Monday, and he would prefer to stop production if the price slipped down below RMB17,000/t (USD2,473/t). "I last sold 60t at RMB17,500/t (USD2,546/t) two weeks ago, and all of my clients stopped purchases upon the straight falling prices this week," revealed the producer on Wednesday. He emphasized that three more silicon metal 3-3-03 plants as his neighbor in Yunnan stopped production this week and more peers would stop at the end of this month upon the heavy production cost pressure, and he foresees that some downstream demand would be released next week and prices of silicon metal 3-3-03 in China would keep stable next week.
The producer, based on an annual production capacity of 35,600t of silicon metal, owns four furnaces of 12,500kva in total with two out of four running now, and predicts to produce about 1,400t in March, down by around 600t from last month, holding around 1,000t in stock.
