Chinese high-grade silicon metal prices drop
2023-04-23 08:32:15 [Print]
BEIJING (Asian Metal) 23 Apr 23 - Dragged by the sluggish demand, the current mainstream prices of high-grade silicon metal 2-2-02 produced by blast furnace in China moved down by RMB1,000/t (USD145/t) to RMB22,000-23,000/t (USD3,196-3,341/t) delivered from early last week. Given the sluggish demand and increasing supply in the spot market, insiders foresee the mainstream prices of silicon metal 2-2-02 in China would go down further next week.
A trader in Fujian revealed that the current offer for silicon metal 2-2-02 produced by blast furnaces stands at RMB24,000/t (USD3,486/t) delivered to Xiamen port, and he could access RMB23,000/t (USD3,341/t) as the best price he can got for firm bids this week, while the supplier insisted on RMB24,000/t (USD3,486/t) early last week. "I last purchased 20t at RMB25,000/t (USD3,631/t) in late March, and my purchase amount in April would halve upon the sluggish overseas demand," revealed the trader on Friday. He added that some materials produced by medium-frequency furnaces was unsolicited offered at around RMB20,000/t (USD2,905/t), and he predicts the mainstream prices of silicon metal 2-2-02 in China would move down further next week dragged by the sluggish demand.
Based on a regular monthly trading volume of 100t of silicon metal 2-2-02, the trader expects to sell around 50t in April, down by around 50t from last month, holding no stocks.
Another trader in Fujian revealed that the current offer for silicon metal 2-2-02 from a producer in Fujian with blast furnace stands at RMB23,000/t (USD3,341/t) delivered to Xiamen with the discount of RMB500/t (USD72/t) at most for firm bid, down by around RMB1,000/t (USD145/t) from the suppliers' price early last week. "The certified supplier decreased prices this week upon the shrinking demand," revealed the trader on Friday who last bought 40t at RMB24,000/t (USD3,486/t) in early April. He added that some uncertified producers even could accept RMB20,000/t (USD2,905/t), and he foresees the mainstream prices of silicon metal 2-2-02 in China would go down further dragged by the sluggish demand.
With a regular monthly trading volume of 150t of silicon metal 2-2-02, the trader foresees to sell around 100t in April, down by around 50t from last month, holding no stocks.
A trader in Fujian revealed that the current offer for silicon metal 2-2-02 produced by blast furnaces stands at RMB24,000/t (USD3,486/t) delivered to Xiamen port, and he could access RMB23,000/t (USD3,341/t) as the best price he can got for firm bids this week, while the supplier insisted on RMB24,000/t (USD3,486/t) early last week. "I last purchased 20t at RMB25,000/t (USD3,631/t) in late March, and my purchase amount in April would halve upon the sluggish overseas demand," revealed the trader on Friday. He added that some materials produced by medium-frequency furnaces was unsolicited offered at around RMB20,000/t (USD2,905/t), and he predicts the mainstream prices of silicon metal 2-2-02 in China would move down further next week dragged by the sluggish demand.
Based on a regular monthly trading volume of 100t of silicon metal 2-2-02, the trader expects to sell around 50t in April, down by around 50t from last month, holding no stocks.
Another trader in Fujian revealed that the current offer for silicon metal 2-2-02 from a producer in Fujian with blast furnace stands at RMB23,000/t (USD3,341/t) delivered to Xiamen with the discount of RMB500/t (USD72/t) at most for firm bid, down by around RMB1,000/t (USD145/t) from the suppliers' price early last week. "The certified supplier decreased prices this week upon the shrinking demand," revealed the trader on Friday who last bought 40t at RMB24,000/t (USD3,486/t) in early April. He added that some uncertified producers even could accept RMB20,000/t (USD2,905/t), and he foresees the mainstream prices of silicon metal 2-2-02 in China would go down further dragged by the sluggish demand.
With a regular monthly trading volume of 150t of silicon metal 2-2-02, the trader foresees to sell around 100t in April, down by around 50t from last month, holding no stocks.
