Silicon metal suppliers in the US bearish about the outlook
2023-04-14 10:36:06 [Print]
BEIJING (Asian Metal) 14 Apr 23 - Discouraged by the sufficient supply, the current mainstream prices of silicon metal 5-5-3 in the US moved down by USD0.05/lb Si to USD1.80-1.84/lb Si D.D.P this week from early last week. Insiders hold pessimistic attitudes towards the outlook and foresee the mainstream prices of silicon metal 5-5-3 in the US would move down further next week.
"The supply from Asia and Europe increased in the US in the past two months, and I currently quote USD1.90/lb Si D.D.P and sold 100t at USD1.85/lb Si D.D.P this week while I insisted on USD1.90/lb Si early last week for the similar inquiry," revealed a trader in the US on Thursday. He added that the purchase from consumers slowed down upon their sufficient stocks and increased supply in the US, and he predicts the mainstream prices of silicon metal 5-5-3 in the US would go down further next week and could touch USD1.50/lb Si in the third quarter.
With a regular monthly trading volume for silicon metal around 300t in the spot market, the trader predicts to sell around 200t in April, unchanged from early last month, holding around 500t in stock.
A consumer in the US disclosed that he bought 100t of silicon metal 5-5-3 at USD1.80/lb Si D.D.P this week from a supplier who insisted on 1.85/lb Si from early last week. "Our consumption stays relative stable but our purchase amount cut by half in April upon our enough stock, and the increased supply from Thailand, Malaysia in the US fueled my concerns about the price drop in the future," revealed the consumer on Thursday. Given the oversupply and slow purchases, he predicts the mainstream prices of silicon metal 5-5-3 in the US would drop further next week.
The consumer, based on an annual silicon metal consumption capacity of around 15,000t, foresees to use around 500t in April, almost unchanged from last month, holding around 1,000t in stock.
"The supply from Asia and Europe increased in the US in the past two months, and I currently quote USD1.90/lb Si D.D.P and sold 100t at USD1.85/lb Si D.D.P this week while I insisted on USD1.90/lb Si early last week for the similar inquiry," revealed a trader in the US on Thursday. He added that the purchase from consumers slowed down upon their sufficient stocks and increased supply in the US, and he predicts the mainstream prices of silicon metal 5-5-3 in the US would go down further next week and could touch USD1.50/lb Si in the third quarter.
With a regular monthly trading volume for silicon metal around 300t in the spot market, the trader predicts to sell around 200t in April, unchanged from early last month, holding around 500t in stock.
A consumer in the US disclosed that he bought 100t of silicon metal 5-5-3 at USD1.80/lb Si D.D.P this week from a supplier who insisted on 1.85/lb Si from early last week. "Our consumption stays relative stable but our purchase amount cut by half in April upon our enough stock, and the increased supply from Thailand, Malaysia in the US fueled my concerns about the price drop in the future," revealed the consumer on Thursday. Given the oversupply and slow purchases, he predicts the mainstream prices of silicon metal 5-5-3 in the US would drop further next week.
The consumer, based on an annual silicon metal consumption capacity of around 15,000t, foresees to use around 500t in April, almost unchanged from last month, holding around 1,000t in stock.
