SHANGHAI, Mar. 26 (SMM) -- China's domestic silicon metal prices advanced steadily this week, and traded prices at ports for #553 silicon metal grew from RMB 12,000-12,100/mt last Friday to currently RMB 12,300-12,400/mt. The ongoing drought continued affected production in main producing regions. Demand improved to some extend, and many traders entered the market to make purchases as they promised to deliver goods to downstream customers in April, especially in the early April. Inventories were not high at most smelters, and production tasks were full in the following moth.
An exporter shipping out 4 kt of goods in a month during the high demand period told that 90 containers were shipped out this week, which improved significantly compared with the level last week that only 200-300 mt of goods were shipped out.
SMM believes that silicon prices receive support and will continue to advance driven by demand. Producers will not lower prices to grasp market share and will continue keep high offers following market trend, even if electricity prices in Hunan province are cut down.
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