Chinese silicon metal suppliers bearish upon the outlook
2023-04-28 08:05:59 [Print]
BEIJING (Asian Metal) 28 Apr 23 - Dragged by the dropping production cost, the current mainstream prices of silicon metal 5-5-3 in China edged down by RMB200/t (USD29/t) to RMB14,600-15,100/t (USD2,110-2,182/t) delivered from early this week. Given the sluggish demand, insiders predict the mainstream prices of silicon metal 5-5-3 in China would go down further next week.
A trader in Fujian revealed that some producers in Chongqing moved prices down on Thursday upon the decreasing electricity cost in Chongqing in May, and he could access RMB14,600/t (USD2,110/t) delivered to Huangpu on Thursday, down by RMB200/t (USD29/t) from the supplier's price early this week, and he purchased 100t at the RMB14,600/t (USD2,110/t) on Thursday. "The demand remains sluggish and my export volume in April would at least halve against March, and I predict the mainstream prices of silicon metal 5-5-3 in China would go down further next week and would touch RMB14,000/t (USD2,023/t) in May," revealed the trader on Thursday.
The trader, based on a regular monthly trading volume of 600t of silicon metal, the trader expects to sell around 400t in April, down by around 200t from last month, holding no stocks.
A consumer in Henan revealed that he bought 500t of silicon metal 5-5-3 oxygen blown from HOSHINE at RMB14,800/t (USD2,139/t) delivered on Thursday, down by RMB200/t (USD28/t) from the supplier's price early this week. "The supplier remains bearish about the outlook upon the heavy stocks in the market and moved prices down," revealed the consumer on Thursday. He added that the dropping production cost in Sichuan in May fueled buyer's concern about the further price drop, and he foresees the mainstream prices of silicon metal silicon metal 5-5-3 oxygen blown would drop further next week and to around RMB14,500/t (USD2,095/t) in May.
With an annual silicon metal consumption capacity of 30,000t, the consumer expects to consume around 1,500t in April, down by 500t from last month, holding around 2,000t in stock.
A trader in Fujian revealed that some producers in Chongqing moved prices down on Thursday upon the decreasing electricity cost in Chongqing in May, and he could access RMB14,600/t (USD2,110/t) delivered to Huangpu on Thursday, down by RMB200/t (USD29/t) from the supplier's price early this week, and he purchased 100t at the RMB14,600/t (USD2,110/t) on Thursday. "The demand remains sluggish and my export volume in April would at least halve against March, and I predict the mainstream prices of silicon metal 5-5-3 in China would go down further next week and would touch RMB14,000/t (USD2,023/t) in May," revealed the trader on Thursday.
The trader, based on a regular monthly trading volume of 600t of silicon metal, the trader expects to sell around 400t in April, down by around 200t from last month, holding no stocks.
A consumer in Henan revealed that he bought 500t of silicon metal 5-5-3 oxygen blown from HOSHINE at RMB14,800/t (USD2,139/t) delivered on Thursday, down by RMB200/t (USD28/t) from the supplier's price early this week. "The supplier remains bearish about the outlook upon the heavy stocks in the market and moved prices down," revealed the consumer on Thursday. He added that the dropping production cost in Sichuan in May fueled buyer's concern about the further price drop, and he foresees the mainstream prices of silicon metal silicon metal 5-5-3 oxygen blown would drop further next week and to around RMB14,500/t (USD2,095/t) in May.
With an annual silicon metal consumption capacity of 30,000t, the consumer expects to consume around 1,500t in April, down by 500t from last month, holding around 2,000t in stock.
