SHANGHAI, Dec. 3 (SMM) --
Entering into low-water period in December, hydro-power supply has become tight and auctions for electricity price in low-water period have begun. A main characteristic in silicon industry that many silicon metal producers will halt production and s supply of silicon metal will gradual reduce in the following months. However, currently China’s silicon metal market is under oversupply condition, producers’ unwillingness to move goods won’t last long.
Most downstream producers will replenish silicon metal at the year end for production in the following year, so demand for silicon metal was relatively stable. Consumers still made purchases on an as-needed basis. Currently, China’s domestic demand for silicon metal was relatively sluggish, but overseas market showed recovering demand with the approach of Christmas holiday.
Silicon metal prices have been lifted up to certain extent amid low-water period, but weak domestic demand prevented prices from rising further. SMM expects that silicon metal prices will remain largely stable at high level in the following week.
SMM believes that mainstream traded prices will be around RMB 13,700/mt for #553 silicon metal, around RMB 14,650/mt for #441 silicon metal, around RMB 15,500/mt for #3303 silicon metal and around RMB 16,300/mt for #2202 silicon metal.
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