SHANGHAI, Jan. 25 (SMM) -- Transactions of domestic silicon metal were few. Traders purchased #553 at ports with RMB 11,800/mt, and offers at RMB 11,700/mt which greatly depressed market prices last week were rarely seen in the market this week, with the expectation that some traders who were very eager to move goods would accept prices at this level. #441 were mainly traded at RMB 12,600/mt, and lowest purchasing prices for # 441 at port were RMB 12,500/mt. Transactions of #3303 were relatively sluggish with transactions hardly been made at RMB 13,300/mt .and mainstream traded prices of #3303 were in the RMB 13,100-13,200/mt range. Inventories of #2202 were relatively low at ports and demand was not high either. Offers of #2202 were mixed at ports, with mainstream offers in the RMB 14,200-14,300/mt range.
Both traders and silicon producers told it was hard to predict silicon metal price trend before the Chinese New Year holiday, but they were optimistic towards price trend after the Chinese New Year holiday when prices will climb slightly as domestic downstream consumers and overseas purchasers will both increase purchasing volumes by then.
SMM believes that silicon metal prices have already touched bottom line and prices will be relatively stable before the Chinese New Year holiday. This week, prices of #553 silicon metal will still fluctuate around RMB 12,000/mt.
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