SHANGHAI, Mar. 11 -- Silicon prices rose from EURO 1,775-1,875/mt to EURO 1,800-1,975/mt in European free trade market, setting a new high since February 2009. Local traders told that offers as high as EURO 1,980/mt have already reported in the market, but only few transactions were made at EURO 1,975/mt in the spot market. Offers of #441 were already higher than EURO 2,000/mt (USD 2,727/mt).
The rise comes amid anticipation of a possible announcement on the European Commission’s decision on the 49% anti-dumping duty on Chinese silicon.
There are hopes there may be a disclosure to interested parties in the coming weeks. Market participants are anticipating a cut in the dumping duty.
The timing of the rise is also crucial as it comes just weeks before FerroAtlantica restarts output in France on April 1 after its longer-than-expected winter shutdown.
(Edited by SMM)