Chinese silicon metal prices firm
2023-03-27 08:33:25 [Print]
BEIJING (Asian Metal) 27 Mar 23 - As more and more producers stopped or plan to stop production at the end of this month, the current mainstream prices of silicon metal 5-5-3 in China firmly stand at RMB15,800-16,300/t (USD2,299-2,372/t) delivered to main port, unchanged from late last week. Given the slightly increased purchase but remaining heavy stocks in the market, insiders predict the mainstream prices of silicon metal 5-5-3 in China would flatten out this week.
A trader in Guangdong revealed that he keptwaiting and hang up purchases in the past two weeks but he purchased 100t of silicon metal 5-5-3 at RMB15,800/t (USD2,299/t) delivered to Huangpu last Friday as he saw more and more plants stopped production and there is no room for the price to edge down further, in line with the supplier's price last Thursday. "I believe it's time to replenish slight stocks and I purchased some amount today to deliver orders and build some stocks, while the demand from domestic and overseas market remains sluggish," revealed the trader last Friday. Given the heavy stocks in the market but the high production cost, he predicts the mainstream prices of silicon metal 5-5-3 in China would go steady this week.
The trader, with a regular monthly trading volume of 500t of silicon metal, expects to sell around 300t at most in March, down by 200t from last month, holding around 100t in stock.
A producer in Yunan revealed that he sold 200t of silicon metal 5-5-3 at RMB15,800/t (USD2,299/t) delivered to Huangpu last Friday, in line with his price last Thursday. "As there is no room for price to go down upon increasing suspended plants in China, some buyers started to cautiously purchase with small quantity today," revealed the producer last Friday. He added that the current selling already turned about RMB500/t (USD72/t) lower than his production cost, and he plans to stop production at the end of this month. He foresees the mainstream prices price silicon metal 5-5-3 in China would keep stable upon the high production cost despite the slow purchases.
The producer, based on an annual production capacity of 17,800t of silicon metal, owns two furnaces of 12,500kva in total with one of them running now and expects to produce about 700t in March, down by around 700t from last month, holding around 1,000t in stock.
A trader in Guangdong revealed that he keptwaiting and hang up purchases in the past two weeks but he purchased 100t of silicon metal 5-5-3 at RMB15,800/t (USD2,299/t) delivered to Huangpu last Friday as he saw more and more plants stopped production and there is no room for the price to edge down further, in line with the supplier's price last Thursday. "I believe it's time to replenish slight stocks and I purchased some amount today to deliver orders and build some stocks, while the demand from domestic and overseas market remains sluggish," revealed the trader last Friday. Given the heavy stocks in the market but the high production cost, he predicts the mainstream prices of silicon metal 5-5-3 in China would go steady this week.
The trader, with a regular monthly trading volume of 500t of silicon metal, expects to sell around 300t at most in March, down by 200t from last month, holding around 100t in stock.
A producer in Yunan revealed that he sold 200t of silicon metal 5-5-3 at RMB15,800/t (USD2,299/t) delivered to Huangpu last Friday, in line with his price last Thursday. "As there is no room for price to go down upon increasing suspended plants in China, some buyers started to cautiously purchase with small quantity today," revealed the producer last Friday. He added that the current selling already turned about RMB500/t (USD72/t) lower than his production cost, and he plans to stop production at the end of this month. He foresees the mainstream prices price silicon metal 5-5-3 in China would keep stable upon the high production cost despite the slow purchases.
The producer, based on an annual production capacity of 17,800t of silicon metal, owns two furnaces of 12,500kva in total with one of them running now and expects to produce about 700t in March, down by around 700t from last month, holding around 1,000t in stock.
