SHANGHAI, Mar. 25 --
Supply:
According to latest SMM survey, operating rates silicon metal producers in Hunan, and Guizhou during February were up by 10-20% from a month earlier, and supply of silicon metal in these regions increased accordingly.
Demand:
Domestic silicon metal downstream producers believed silicon metal prices will fall in the future, so they only made purchases on an as-needed basis. In addition, as overseas purchasers adopted a wait-and-see attitude, domestic exporters' enthusiasm to purchase silicon metal was not high.
Analysis
SMM expects that downstream purchases will not improve, and overseas wait-and-see sentiment will remain, which may push silicon metal prices lower. SMM expects that silicon metal prices will fall in the following week by virtue of Japan's earthquake, arrival of high water period and power price cut in Hunan province.
Forecast
SMM expects that mainstream traded prices will be around RMB 13,500/mt for #553 silicon metal at Huangput port, RMB 14,400/mt for #441 silicon metal, RMB 15,000/mt for #3303 silicon metal and 16,000/mt for #2202 silicon metal.
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