China Silicon Metal Market Weekly Forecast (May 2-3)-Shanghai Metals Market

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China Silicon Metal Market Weekly Forecast (May 2-3)

Price Review & Forecast 06:35:30PM Apr 26, 2013 Source:SMM
SHANGHAI, Apr. 26 (SMM) – As of April 26, silicon metal stocks were 6,000 mt at Hongkai warehouse, 5,000 mt at Yuehua warehouse, 6,000 mt at Wanxiong warehouse, and wharf inventories were 3,000 mt, making a total of 20,000 mt at Huangpu Port. In Yunnan, stocks at Guichu Logistics were 9,000 mt, while those at Honggui were 6,000 mt, leaving total inventories in Kunming less than 15,000 mt. 
 
On the demand side, it is believed that silicon metal at producers in some regions of Sichuan will increase in May as power prices will be lowered with the onset of normal water period in April. Thus, silicon metal prices will likely fall. As such, some buyers only waited on the sidelines and plan to purchase goods in mid-May. SMM expects silicon metal demand to remain stable in May but changes will been seen in June. 
 
As there are only two trading days next week due to the May Day holiday, and market players will unlikely make transactions actively, SMM expects silicon metal prices to hold steady in the coming week.
 

China Silicon Metal Market Weekly Forecast (May 2-3)

Price Review & Forecast 06:35:30PM Apr 26, 2013 Source:SMM
SHANGHAI, Apr. 26 (SMM) – As of April 26, silicon metal stocks were 6,000 mt at Hongkai warehouse, 5,000 mt at Yuehua warehouse, 6,000 mt at Wanxiong warehouse, and wharf inventories were 3,000 mt, making a total of 20,000 mt at Huangpu Port. In Yunnan, stocks at Guichu Logistics were 9,000 mt, while those at Honggui were 6,000 mt, leaving total inventories in Kunming less than 15,000 mt. 
 
On the demand side, it is believed that silicon metal at producers in some regions of Sichuan will increase in May as power prices will be lowered with the onset of normal water period in April. Thus, silicon metal prices will likely fall. As such, some buyers only waited on the sidelines and plan to purchase goods in mid-May. SMM expects silicon metal demand to remain stable in May but changes will been seen in June. 
 
As there are only two trading days next week due to the May Day holiday, and market players will unlikely make transactions actively, SMM expects silicon metal prices to hold steady in the coming week.