Destocking Was Significant in Tianjin; Silicon Metal Social Inventory Down WoW [SMM Silicon Inventory]

》View SMM Silicon Product Prices

》Subscribe to View Historical Price Trends of SMM Metal Spot

》Click to View SMM Metal Industry Chain Database

SMM, March 7: According to SMM statistics, as of March 7, the nationwide social inventory of silicon metal totaled 599,000 mt, a decrease of 9,000 mt WoW. Among them, the inventory in general social warehouses was 141,000 mt, down by 6,000 mt WoW, while the inventory in social delivery warehouses (including unregistered warehouse warrants and spot cargo) was 458,000 mt, down by 3,000 mt WoW. This week, the most-traded silicon metal futures contract continued to decline, with improved price advantages leading to better shipments compared to before. The destocking of social inventory this week was mainly concentrated in the Tianjin area. The operating rate on the downstream demand side was basically stable, with downstream restocking on an as-needed basis. Coupled with a relatively high supply level on the supply side, the social inventory currently lacks the foundation for continuous significant destocking.