SHANGHAI, Aug. 17 (SMM) -- China's domestic silicon metal prices advanced due to demand from domestic and overseas market. Enquires increased, but actual transactions were moderate. According to SMM latest mainstream offers at Huangpu port, prices were between RMB 12,200-12,400/mt for #553 silicon metal, between RMB 13,000-13,200/mt for #441 silicon metal, between RMB 13,600-13,800/mt for #3303 silicon metal and between RMB 14,100-14,300/mt for #2202 silicon metal.
Domestic traders were busy building stocks when Japan, South Korea and the European regions were on summer holiday, so inventories for spot silicon metal are very limited at present. Offers of silicon metal are firm and climbed all the way as domestic silicon producers are reluctant to move goods at present.
Inquiries from overseas market gradually increased and purchasing interests from overseas purchases grew when the summer holiday gradually ended from last week. With the recovery of overseas demand and recent brisk domestic silicon metal market, domestic silicon metal prices receive support to climb all the way.
SMM believes that it still takes time for downstream consumers to accept the sustainable growth of silicon metal prices. SMM believes that growth of silicon metal prices will slow down.
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