SHANGHAI, Jan. 11 (SMM) -- Offers of silicon metal at ports continued to decline, and prices of # 553 silicon metal fell below RMB 12,000/mt. Trading sentiment was still sluggish. However, costs at main producing regions remained at high levels, and producers still kept firm offers with the expectation of increase of ex-works prices.
It still took time for inventories at ports to be consumed . It was reported, inventories at warehouses of Hongkai, and Yuehua in Huangpu mounted above 11 kt, and oversupply situation would not change in the short term. Currently, domestic downstream consumers believed prices would decline in the future, so they made limited purchases to keep daily production.
In export market, exporters told that since January of 2010, they have received inquiries occasionally but with limited purchasing volumes. Overseas consumers were also concerned that prices might decline in the future, so they only made limited purchasing volumes on an as-needed basis and made purchasing volumes in 40-60 mt range.
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