SHANGHAI, May 15 (SMM) – Silicon prices in April continued their downward trend from March as bearish sentiment drove downstream consumers to cut procurement and as downstream demand dwindled, SMM believed.
As the rainy season in south China approaches, supplies of silicon are set to rise on adequate power supplies and lower power prices. Such anticipation fuelled bearish sentiment in the market. Many downstream consumers made smaller purchases and preferred to maintain the lowest possible levels of inventories required for production.
Short supplies of aluminium propelled domestic aluminium alloy producers to cut production. Environmental probes and maintenance activities also affected production across producers of organosilicon.
Trades of low-grade silicon picked up at the end of April as regular purchase tenders at downstream consumers came into effect and as delivery dates of export orders drew closer.
Prices of low-grade silicon products such as #553 non-oxygen silicon and #551 oxygen silicon stablised as the market declined.Trades of high-grade silicon remained weak given high social inventories and prices.
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