MIIT: China's Industrial Silicon Metal Production in the First Half of 2022 Increased 26.9% YoY

SHANGHAI, Aug 8 (SMM) –  The Ministry of Industry and Information Technology released relevant information about the industrial silicon metal in the first half of 2022 as follows:

First, the output increased year-on-year. According to the data of China Nonferrous Metals Industry Association, China's industrial silicon metal output totalled 1.436 million mt in the first half of 2022, a year-on-year increase of 26.9%; domestic consumption of industrial silicon metal amounted to 1.092 million mt, up 24.4% year-on-year, driven by the demand from the photovoltaic industry. 

Second, the prices retreated from highs. According to the data of China Nonferrous Metals Industry Association, in the first half of the year, the average prices of metallurgical-grade #553 and chemical-grade #421 silicon stood at 19,916 yuan/mt and 22,342 yuan/mt respectively, up 54.1% and 59.3% year-on-year respectively. As of June 30, the prices of the above-mentioned two types of silicon metal dropped by 24.4% and 10.9% respectively from the highest point of this year. 

Third, the exports declined year-on-year. The data from the China Customs reveals that the export volume of industrial silicon metal was 352,000 mt in the first half of 2022, a year-on-year decrease of 12.6%.