SHANGHAI, Sept. 20 (SMM) -- According to SMM sources, prices for #553 silicon metal slipped recently, with mainstream traded price at Huangpu port between RMB 13,500-13,700/mt, down RMB 50-100/mt from a week earlier.
Escalating European debt crisis heavily weighed on financial market, and aluminum market did not improve during the traditional peak-demand period. Prices for polysilicon metal slipped, leaving trichlorosilane producers profitless. In this context, some trichlorosilane producers had to halt some production lines. Weak demand from major silicon metal downstream industries and tight cash flow pressure resulted in quiet transactions of silicon metal in many regions in China.
SMM believes that, electricity price will increase with the coming of low-water period, and bullish sentiment is brewing. SMM expects that recent price decline will be short-lived, and prices for #553 silicon metal will rebound after China’s National Day holiday.