Silicon metal prices fell, but likely to stabilise in short term

Market review: As of November 16, prices of standard #553 silicon metal at Huangpu Port were 14,100- 14,200 yuan/mt, down 100 yuan/mt or 1% WoW, and those of above standard #553 silicon metal stood at 14,500-14,700 yuan/mt, down 250 yuan/mt or 2% WoW, those of #441 silicon metal prices were 15,000-15,100 yuan/mt, down 50 yuan/mt WoW, those of #421 silicon metal prices were stable at 15,700- 15,900 yuan/mt and those of #3303 silicon metal prices were stable at 15,600-15,800 yuan/mt. Silicon prices appeared stable-to-weak during the week. In Sichuan and Yunnan, silicon market saw high costs and low inventory pressure amid planned production cuts and halts, hence offers for silicon were strong. In north China, silicon plants mainly supplied grinding plants, and downstream buyers had strong willingness to lower prices.

Offers of silicon suppliers were unacceptable to downstream buyers. With cost supports against weak demand and falling silicon powder prices, spot prices of silicon will still move sideways on the near-term horizon.