SHANGHAI, June 26 (CBI China) -- Domestic prices of silicon metal were still in downward track during this week, with a decline of RMB 100/mt for low-grade silicon metal prices. Prices of high-grade silicon metal remained stable.
Rumors emerged in the market. First, South Korea will likely raise the import tariff, which will stimulate the exports of silicon metal in the short term, but the buying interest of customers in South Korea will likely become low. Second, the European Union and the U.S. complained at the World Trade Organization (WTO) about Chinese export restrictions on some raw materials, including silicon metal. However, market insiders were quiet with regard to this news, as there is little possibility China will adjust the export tariffs.
Silicon market is expected to remain stable next week, may with slight downward room.
CBI believes supply surplus will remain unchanged in the market before another portion of high-cost factories suspend production, and the price will continue to fall at a slower pace until the price hit the bottom line. The price recovery will depend on the improvement of downstream demand.
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