Inventory Transfer: Slight Decrease in Silicon Metal Social Inventory [SMM Silicon Inventory]

SMM reported on August 16 that the national social inventory of silicon metal totaled 480,000 mt, down 1,000 mt WoW. Among them, the general social warehouse held 124,000 mt, unchanged WoW, and the social delivery warehouse held 356,000 mt (including the unregistered warrant portion), down 1,000 mt WoW. Last week, the silicon metal futures contract Si2409 hit a new low again, with the low point falling below 9,200 yuan/mt. Downstream including silicone and polysilicon companies increased their restocking demand, leading to an increase in trading volume. Some traders have recently been stockpiling small quantities, resulting in a transfer of silicon metal social inventory and a slight decrease in total social inventory. The fundamentals remain unchanged, and it is expected that social inventory will continue to accumulate in the short term.