SHANGHIA, May 18 (SMM) -- Offers of domestic silicon metal prices continued to fall, and traded prices of #553 silicon metal were close to RMB 12,000/mt. Although silicon metal prices declined to certain extent, purchasing interest from downstream consumers hasn’t improved, with few enquiries and moderate trading volumes reported in the market. The latest offers were between RMB 11,800-12,200/mt for #553 silicon metal at Huangpu port, RMB 12,500-12,800/mt for #441 silicon metal, RMB 13,200-13,500/mt for #3303 silicon metal and RMB 14,000-14,400/mt for #2202 silicon metal.
The National Development and Reform Commission, along with the State Electricity Regulatory Commission, National Energy Board has jointly issued a notice on cancelling the preferential electricity prices for producers with high energy consuming.
According to SMM sources, local governments at various regions are considering adopting measures to adjust electricity prices, and some regions have already announced that electricity prices will be increased by RMB 0.005-0.01/kWh. If the preferential electricity prices are to cancelled in a wide range, costs at silicon metal producers will increase by RMB 60-130/mt. In that context, domestic spot prices of silicon metal will climb due to support from costs, and prices will cease to decline and begin to stabilize temporarily by then.
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