SHANGHAI, Aug. 5 (SMM) --
Supply of silicon metal continued to wane, due to stock building by producers, speculation transaction by traders and production cut by power rationing impact. Power rationing did not ease in southwest China, and production was still severe affected by electricity restriction.
Overseas demand continued to be sluggish, with few enquiries reported. Demand from domestic downstream producers was still stable.
Although silicon metal prices rose rapidly, actual transactions were limited. If demand does not improve, any room for silicon metal prices to rise will be limited in the following week.
SMM expects that mainstream traded prices at Huangpu port will be around RMB 13,200/mt for #553 silicon metal, RMB 13,800/mt for #441 silicon metal, RMB 14,800/mt for #3303 silicon metal and 16,000/mt for #2202 silicon metal in the following week.