Silicon Metal Prices Stabilize after Previous Falls

SHANGHAI, Jun. 20 (SMM) – China’s silicon metal prices held steady on June 19 after prices for #553 silicon metal fell to RMB 11,100-11,150/mt June 18. According to SMM survey, silicon metal producers and downstream buyers were mostly bearish to market outlook this year, and silicon metal prices fell with the onset of high-water season, leaving operating rates low in Yunnan. Electricity price in Yunnan’s Baoshan was RMB 0.02/kwh higher than last year, brining cost for local silicon metal producers up RMB 250/mt, which was unacceptable for producers reporting meager profits. Thus, operating rates at producers in Baoshan were lower than a year ago.