SHANGHAI, Jan. 20 (SMM) -- Trading sentiment remained sluggish in recent two weeks, but the number of suppliers who sold goods at low prices reduced and prices of silicon metal were temporarily stable. Demand was still sluggish, but cargo-holders' interest in moving goods waned. Overall trading sentiment stagnated between suppliers and purchasers.
Operating rates were low in the 25%-30% range in Yunnan, Sichuan, Guizhou and other regions. Producers' views were mixed toward future market trend. Some were eager to move goods and actively sought buyers in the market, while some producers still kept firm offers and were confident toward market outlook.
Currently, prices of # 553 silicon metal delivered to Shanghai were at RMB 12,000/mt, so mainstream traded prices were in the RMB 12,200-12,400/mt range. Prices of # 441 silicon metal were RMB 12,700/mt and prices of # 3303 were in the RMB 13,300-13,400/mt range.
SMM believes prices of silicon metal have already touched the bottom line and any downward room for prices of silicon metal will be limited. It is expected that prices will rebound in the near term.
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