Bearish Sentiment Caused by High Inventory may Weigh on Silicon Prices

SHANGHAI, May 8 (SMM) - Due to the falling prices of petroleum coke and electrode, the prices of silicon coal declined under the weak cost support. In terms of the spot market, some silicon metal companies shipped at low prices under the pressure of tight cash flow post the Labour Day holiday. At the same time, major Xinjiang manufacturers were still active in delivery, further weakening the spot prices. The bearish sentiment caused by the high social inventory may still weigh on the prices of silicon metal this week.