SMM Weekly Forecast on China's Silicon Market

SHANGHAI, Jul. 22 (SMM) --

Supply:

Supply of spot silicon metal was still ample, and silicon metal producers willingness sot move goods was high in Yunnan province due to cash flow pressure caused by electricity charges settlement at the month end. While willingness to move goods was waning at producers without cash flow pressure. Generally speaking, supply of silicon metal is increasing continuously.

Demand:

Current downstream demand was still sluggish, with soft demand from overseas market and limited purchases from domestic downstream steel mills.

Excluding #2202 silicon metal, prices for other silicon metal specification all slipped slightly. SMM expects, prices of silicon metal will continue to fall in the following week.

Forecast:

SMM expects that mainstream traded prices at Huangpu port will be around RMB 12,500/mt for #553 silicon metal, RMB 13,400/mt for #441 silicon metal, RMB 14,600/mt for #3303 silicon metal and 15,900/mt for #2202 silicon metal in the following week.