Chinese silicon metal market keeps moving down

BEIJING (Asian Metal) 9 Jul 12 – As the demand for silicon metal kept weak, Chinese silicon metal prices dropped sharply and fast in the past two weeks.Asian Metal Copyrightp last week, both down by around RMB300t USD47t against that of the previous week.Asian Metal Copyright The trading was not strong and buyers’ target prices became lower and lower. The mainstream prices for 5-5-3, 4-4-1, 3-3-0-3 and 2-2-0-2 have dropped to around RMB10,700-11,000/t (USD1,693-1,704/t), RMB11,300-11,600/t (USD1,787-1,835/t), RMB12,200-12,500/t (USD1,930-1,977/t) and RMB13,400-13,800/t (USD2,120-2,183/t) in ports respectively, and a few prices in the market were even lower.

A trader in Guangzhou, with a regular trading volume of around 800tpm for silicon metal, told Asian Metal that they purchased 160t of 5-5-3 at RMB10,700/t (USD1,693/t) d.d.p and around 200t of 5-5-3 oxygen-blown at RMB11,000/t (USD1,740/t) d.Asian Metal Copyright It has not pushed the market to move up,” said the source.Asian Metal Copyrightd.p last week, both down by around RMB300/t (USD47/t) against that of the previous week. As for 4-4-1 and 3-3-0-3, the source claimed that the mainstream offers decreased to around RMB11,400-11,500/t (USD1,803-1,819/t) and RMB12,200-12,300/t (USD1,930-1,946/t) in ports respectively last week, and a few offers were even around RMB100/t (USD15/t) lower.

The source claimed that their downstream aluminum alloy industry enters the off-season and the demand for silicon metal is not strong. Although Chinese silicon metal prices have dropped to a very low level, they are in no hurry to build stocks.

A silicon metal market participant in Yunnan claimed that there were some purchasing activities for silicon metal in the local area last week, but most buyers’ target prices became lower and lower. The dealing prices dropped sharply further and a few smelters began to stop production last week. According to the source, the prices for 5-5-3, 5-5-3 oxygen-blown and 4-4-1 are around RMB10,400/t (USD1,645/t), RMB10,800/t (USD1,708/t) and RMB11,000/t (USD1,740/t) Kunming respectively now. As for 3-3-0-3 and 2-2-0-2, some prices are around RMB12,100/t (USD1,914/t) and RMB13,500/t (USD2,136/t) Kunming respectively or even higher, but some pries are only around RMB11,900/t (USD1,882/t) and RMB13,000/t (USD2,056/t) Kunming.

“The offers were in a mess, but the overall market prices dropped sharply in the past two weeks. There were some buying activities from traders recently, but the trading was not very strong and buyers’ bidding prices were getting lower.Asian Metal Copyright As for 3-3-0-3 and 2-2-0-2, some prices are around RMB12,100t USD1,914t and RMB13,500t USD2,136t Kunming respectively or even higher, but some pries are only around RMB11,900t USD1,882t and RMB13,000t USD2,056t Kunming.Asian Metal Copyright It has not pushed the market to move up,” said the source.Asian Metal Copyright The mainstream prices for 5-5-3, 4-4-1, 3-3-0-3 and 2-2-0-2 have dropped to around RMB10,700-11,000t USD1,693-1,704t, RMB11,300-11,600t USD1,787-1,835t, RMB12,200-12,500t USD1,930-1,977t and RMB13,400-13,800t USD2,120-2,183t in ports respectively, and a few prices in the market were even lower.Asian Metal Copyright “If silicon metal prices drop further, more smelters will stop production.Asian Metal Copyright A silicon metal market participant in Yunnan claimed that there were some purchasing activities for silicon metal in the local area last week, but most buyers’ target prices became lower and lower.Asian Metal Copyright The market will become stable gradually, but it takes a while.Asian Metal Copyright A silicon metal market participant in Yunnan claimed that there were some purchasing activities for silicon metal in the local area last week, but most buyers’ target prices became lower and lower.Asian Metal Copyright”.Asian Metal Copyright The mainstream prices for 5-5-3, 4-4-1, 3-3-0-3 and 2-2-0-2 have dropped to around RMB10,700-11,000t USD1,693-1,704t, RMB11,300-11,600t USD1,787-1,835t, RMB12,200-12,500t USD1,930-1,977t and RMB13,400-13,800t USD2,120-2,183t in ports respectively, and a few prices in the market were even lowerAsian Metal Copyright