SHANGHAI, Jul. 1 (SMM) --
Operating rates at major producing regions in southwest China were above 60%, with oversupply reported. Supply of silicon metal has been stable in northern China due to stale operating rates at silicon metal producers in northern China mainly uses thermal power.
Domestic downstream demand was still quiet. Overseas producers still adopted a wait-and-see attitude in anticipation of further price decline.
Given the increased supply, soft demand, SMM expects prices of low grade silicon metal will fall further, and prices of high grade silicon metal will not fall significantly.
SMM expects that mainstream traded prices at Huangput port will be around RMB 12,900/mt for #553 silicon metal, RMB 13,900/mt for #441 silicon metal, RMB 14,900/mt for #3303 silicon metal and 15,900/mt for #2202 silicon metal in the following week.
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