Quotes for Silicon Metal Held Firm, Downstream Buyers Waited on Sidelines-Shanghai Metals Market

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Quotes for Silicon Metal Held Firm, Downstream Buyers Waited on Sidelines

Industry News 07:27:47PM Apr 24, 2013 Source:SMM
SHANGHAI, Apr. 24 (SMM) – The approaching delivery time and brief improvement in exports caused stocks for #553 and #441 silicon metal stocks in Guangzhou and Kunming to fall sharply. Producers and traders thus held quotes firm due to tightening supply, driving prices for #553 and #441 to rebound slightly.
 
According to SMM sources, mainstream traded prices for 553# silicon metal at Huangpu Port increased to RMB 11,100/mt, with quotations up to RMB 11,200/mt, but trading was sparse. Traded prices for #441 silicon metal were RMB 11,900-12,000/mt. Prices for high grade silicon metal, however, remained unimproved or even fell due to considerable stocks. The sharper price movements recently and upcoming high-water season led downstream buyers to believe that silicon metal prices will decline, so most of them only waited on the sidelines.
 

Quotes for Silicon Metal Held Firm, Downstream Buyers Waited on Sidelines

Industry News 07:27:47PM Apr 24, 2013 Source:SMM
SHANGHAI, Apr. 24 (SMM) – The approaching delivery time and brief improvement in exports caused stocks for #553 and #441 silicon metal stocks in Guangzhou and Kunming to fall sharply. Producers and traders thus held quotes firm due to tightening supply, driving prices for #553 and #441 to rebound slightly.
 
According to SMM sources, mainstream traded prices for 553# silicon metal at Huangpu Port increased to RMB 11,100/mt, with quotations up to RMB 11,200/mt, but trading was sparse. Traded prices for #441 silicon metal were RMB 11,900-12,000/mt. Prices for high grade silicon metal, however, remained unimproved or even fell due to considerable stocks. The sharper price movements recently and upcoming high-water season led downstream buyers to believe that silicon metal prices will decline, so most of them only waited on the sidelines.