SHANGHAI, Oct. 21 (SMM) -- Domestic prices for silicon metal grew rapidly after China's National Day holiday, and remained high recently. A number of smelters were reluctant to sell goods.
As to the delivery price in Kunming city, prices for #3303 silicon stabilized at RMB 10,600/mt, up 6% compared pre-holiday levels of RMB 10,000/mt; prices for #2202 silicon were RMB 11,000/mt last week and have been raised to RMB 11,200/mt this week, but no deals were done.
An aluminum producer with capacity of 100kt/yr of aluminum alloy in Shandong province said they purchased steadily despite of marked growth in silicon prices recently, as it is reasonable to raise silicon prices upon increasing electricity prices, but they will reduce purchases, since aluminum alloy orders have dropped slightly after week-long holiday.
SMM believes silicon prices will remain high for the foreseeable future. Although offers increased, regular customers can still get goods at relatively lower prices. Silicon supply will decline gradually during low-water period, which will help drive up silicon metal prices further.
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