Silicon Metal Prices Fall Amid Limited Inquiries And Transactions

As of October 19, prices of standard 553# silicon in East China were down 200 yuan/mt or 1% WoW at 14,600-14,700 yuan/mt, that of above-standard 553# silicon were down 150 yuan/mt or 2% WoW, at 15,200-15,300 yuan/mt, that of 441# silicon were down 250 yuan/mt or 2% WoW at 15,500-15,700 yuan/mt, that of 421# silicon metal (for silicone) were down 100 yuan/mt or 1% WoW at 16,300- 16,500 yuan/mt and that of 3303# silicon were down 150 yuan/mt or 1% WoW at 16,000-16,300 yuan/mt. Futures warrants were favoured due to price advantage. In recent days, November silicon futures contract hovered around 13,600 yuan/mt. The 421# warrant was quoted at much lower premiums than spot goods. Spot market saw less inquiries and transactions. Most silicon producers and traders reported limited new orders. Silicon makers had diverged attitudes toward shipments and quotations. Most of them with low in-plant stocks gently increased offers, while leading producers in Xinjiang raised prices up 100-200 yuan/mt after signing 120,000 mt of orders to be shipped in December at the latest. In terms of secondary silicon, large price erosions were felt from hindered shipments. The ex-factory quotation of 331# was basically the same as that of 441# silicon.