SHANGHAI, Nov. 24 (SMM) -- Domestic silicon metal prices soared due the reluctance by silicon producers to move goods. Offers were RMB 12,000/mt for #553 silicon, RMB 12,500-12,800/mt for #441 silicon, RMB 13,000-14,000/mt for #3303 silicon, and RMB 14,000-14,500/mt for #2202 silicon at ports.
Silicon producers will experience great negative impact from power supply shortage during low-water period before May and June 2010. In addition, they kept operating rates low for nearly half a year, tightening spot supply in the market and generating the reluctance by silicon producers to sell goods, so silicon metal prices soared in response. However, the rapid growth in silicon metal prices limited market transactions, leaving neutral trading sentiment.
SMM believes silicon metal prices will likely inch up further, but lacking support from transactions currently. Inventories at exporters and consumers were low, and market prices are waiting for solid support from transactions.
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