SHANGHAI, Jun. 17 (SMM) -- Offers of silicon metal were still mixed after the Duanwu Festival, and producers' unwillingness to move goods was strong, with offers of low grade silicon metal growing rapidly. With only two working days left in this week, inquires from consumers were few and cargo-holders were also unwilling to move goods since current situation is not clear.
Transactions were extremely sluggish on June 17th. According to SMM latest offers at Huangpu port, prices were between RMB 11,800-12,200/mt for #553 silicon metal, between RMB 12,400-12,900/mt for #441 silicon metal, between RMB 12,800-13,200/mt for #3303 silicon metal and between RMB 13,700-14,100/mt for #2202 silicon metal.
SMM believes that silicon metal prices will be more affected by producers'' mentality than market fundamentals in the short term before uncertainties from electricity price adjustment diffuse, and prices are expected to have upward momentum.
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