Silicon Metal Prices Extended Losses

SHANGHAI, Mar 10 (SMM) – The price of silicon metal continued to fall slightly this week. As of March 9, the price of standard #553 silicon in east China was 16,900-17,100 yuan/mt, a week-on-week decrease of 100 yuan/mt, and the price of above-standard #553 silicon metal was 17,000-17,400 yuan/mt, a drop of 150 yuan/mt. The price of #421 silicon (used in silicone) stood at 19,000-19,200 yuan/mt, a decrease of 100 yuan/mt, and that of #3303 silicon at 18,400-18,600 yuan/mt, a drop of 200 yuan/mt.

 With the exception of a brief rebound after the CNY holidays, the domestic silicon metal market has been on the downswing for nearly five months since late October last year. The price for above-standard #553 silicon metal was lowered to 17,200 yuan/mt, a drop of 19.4%. The sticky weakness in silicon prices, combined with the current ample overall supply, limited silicon prices from rebounding. Downstream users have purchased on demand. Some sellers sold with discounts to spur sales. As such, silicon metal prices inched lower.