Chinese silicon metal market sees bearish sentiment
2023-04-11 08:28:55 [Print]
BEIJING (Asian Metal) 11 Apr 23 - Even though most producers in Yunnan and Sichuan stopped production, the supply from Xinjiang and other Northern provinces remain sufficient, consequently, the Chinese silicon metal sees bearish attitudes towards the outlook. The current mainstream prices of silicon metal 5-5-3 in China hover at RMB15,500-16,000/t (USD2,249-2,322/t) delivered, unchanged from late last week, and insiders foresee the mainstream prices of silicon metal 5-5-3 in China would edge down depressed by the heavy stocks and sluggish demand in China.
A consumer in South China revealed that the current prices for 500t of silicon metal 5-5-3 oxygen blown from a supplier in Xinjiang stands at RMB15,800/t (USD2,293/t) delivered with no discount, in line with the supplier's price last Friday, while he prefers to wait. "I last purchased 500t at RMB16,000/t (USD2,322/t) early last week, and our consumption would halve in April against March dragged by the sluggish demand of aluminum alloys," revealed the consumer on Monday. He added that the biggest supplier in Xinjiang hold at least 200,000t in stocks, and he predicts that the mainstream prices of silicon metal 5-5-3 in China would edge down this week upon the heavy stocks but sluggish demand in China even though most producers in Yunnan and Sichuan stopped production.
The consumer, based on an annual silicon metal consumption capacity of 50,000t, expects to consume about 2,500t in April, down by about 1,000t from last month, holding around 5,000t in stock.
A consumer in South China revealed that most of his suppliers in Yunnan stopped production and turned reluctant to quote now upon their high production cost, and he could access RMB15,500/t (USD2,449/t) for silicon metal 5-5-3 delivered to Huangpu only from some supplier in Chongqing, in line with the price late last week, but he still didn't purchase yet. "I last purchased 500t at RMB16,200/t (USD2,351/t) two weeks ago, and the remaining high operation rate and heavy stocks in Xinjiang which accounts for over 60% of the whole silicon metal output in China fueled my concerns about the price drop next week, and I predict the mainstream prices of silicon metal 5-5-3 in China would go down further this week despite the high production cost in South China," revealed the consumer on Monday.
The consumer, based on an annual silicon metal consumption capacity of 6,000t, expects to consume about 300t in April, down by about 200t from last month, holding around 300t in stock.
A consumer in South China revealed that the current prices for 500t of silicon metal 5-5-3 oxygen blown from a supplier in Xinjiang stands at RMB15,800/t (USD2,293/t) delivered with no discount, in line with the supplier's price last Friday, while he prefers to wait. "I last purchased 500t at RMB16,000/t (USD2,322/t) early last week, and our consumption would halve in April against March dragged by the sluggish demand of aluminum alloys," revealed the consumer on Monday. He added that the biggest supplier in Xinjiang hold at least 200,000t in stocks, and he predicts that the mainstream prices of silicon metal 5-5-3 in China would edge down this week upon the heavy stocks but sluggish demand in China even though most producers in Yunnan and Sichuan stopped production.
The consumer, based on an annual silicon metal consumption capacity of 50,000t, expects to consume about 2,500t in April, down by about 1,000t from last month, holding around 5,000t in stock.
A consumer in South China revealed that most of his suppliers in Yunnan stopped production and turned reluctant to quote now upon their high production cost, and he could access RMB15,500/t (USD2,449/t) for silicon metal 5-5-3 delivered to Huangpu only from some supplier in Chongqing, in line with the price late last week, but he still didn't purchase yet. "I last purchased 500t at RMB16,200/t (USD2,351/t) two weeks ago, and the remaining high operation rate and heavy stocks in Xinjiang which accounts for over 60% of the whole silicon metal output in China fueled my concerns about the price drop next week, and I predict the mainstream prices of silicon metal 5-5-3 in China would go down further this week despite the high production cost in South China," revealed the consumer on Monday.
The consumer, based on an annual silicon metal consumption capacity of 6,000t, expects to consume about 300t in April, down by about 200t from last month, holding around 300t in stock.
