SHANGHAI, Jan. 5 (SMM) -- In the first trading week of 2010, domestic silicon prices stabilized temporarily, but there were only few transactions in the market. A wait-and-see sentiment was prevailing in the market.
Prices at ports declined last week as many cargo-holders moved a large amount of goods at low prices, while trading volumes declined when entering into 2010. Currently, producers kept firm offers due to reduced output of silicon which was caused by higher electric power costs and negative impact of electric power restriction policy. As the Chinese New Year holiday is approaching, more and more silicon producers will halt operation, and supply of silicon will reduce accordingly.
SMM believes supply of silicon will still be ample in the short run as certain amount of inventories held by producers and traders will be gradually moved before the Chinese New Year holiday. Overseas purchasers have not entered into Chinese market, and future price trend of silicon is not clear.
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