Chinese silicon metal market sees more deals and prices up further
2012-12-21 08:50:42 [Print]
BEIJING (Asian Metal) 21 Dec 12 – After the news that Chinese silicon metal export duty will be cancelled from January 1st 2013 came out on December 17th, Chinese domestic silicon metal market saw more purchasing activities in the recent days and many traders were active in adding stocks. The prices in the domestic market increase further slightly with 5-5-3, 5-5-3 oxygen-blown, 4-4-1 and 3-3-0-3 to around RMB11,200-11,400/t (USD1,797-1,829/t), RMB11,300-11,600/t (USD1,813-1,861/t), RMB11,600-11,800/t (USD1,861-1,894/t) and RMB12,000-12,200/t (USD1,926-1,958/t) in ports respectively now.
A source from a silicon metal smelter in Sichuan reported that they stopped production in November and have not sold materials in December up until now, with several hundreds of stocks in hand. The source claimed that the prices for 5-5-3 increase to around RMB11,300/t (USD1,813/t) in ports in the market this week, and they intend to reserve the materials for another days.
The source noted that Chinese silicon metal prices are likely to increase further. The operating rate will remain low in the following months. Moreover, the silicon metal export duty will be cancelled from January 1st and the market is likely to see more deals. They intend to hold stocks in hand and watch the market trend in January after the cancellation of export duty on silicon metal.
A silicon metal market participant in Yunnan reported that silicon metal prices increase slightly further in the local market this week with 5-5-3, 5-5-1, 4-4-1 and 3-3-0-3 at around RMB11,100/t (USD1,781/t), RMB11,400/t (USD1,829/t), RMB11,500/t (USD1,845/t) and RMB11,800/t (USD1,894/t) Kunming respectively. Some offers are higher and some smelters are holding back from selling materials.
The source added that after the news of cancellation of silicon metal export duty came out, local silicon metal market saw more purchases from the traders. Moreover, the electricity price in Dehong, Yunnan will increase on December 25th. Therefore, it is likely for the local silicon metal prices to increase further in the near future.
A source from a silicon metal smelter in Sichuan reported that they stopped production in November and have not sold materials in December up until now, with several hundreds of stocks in hand. The source claimed that the prices for 5-5-3 increase to around RMB11,300/t (USD1,813/t) in ports in the market this week, and they intend to reserve the materials for another days.
The source noted that Chinese silicon metal prices are likely to increase further. The operating rate will remain low in the following months. Moreover, the silicon metal export duty will be cancelled from January 1st and the market is likely to see more deals. They intend to hold stocks in hand and watch the market trend in January after the cancellation of export duty on silicon metal.
A silicon metal market participant in Yunnan reported that silicon metal prices increase slightly further in the local market this week with 5-5-3, 5-5-1, 4-4-1 and 3-3-0-3 at around RMB11,100/t (USD1,781/t), RMB11,400/t (USD1,829/t), RMB11,500/t (USD1,845/t) and RMB11,800/t (USD1,894/t) Kunming respectively. Some offers are higher and some smelters are holding back from selling materials.
The source added that after the news of cancellation of silicon metal export duty came out, local silicon metal market saw more purchases from the traders. Moreover, the electricity price in Dehong, Yunnan will increase on December 25th. Therefore, it is likely for the local silicon metal prices to increase further in the near future.
Silicon Metal 3-3-03 FOB China
Unit:USD/mt
China silicon metal producers' sales to production ratio statistics by province by month
Unit: %
