China Silicon Metal Market Weekly Forecast (Jun. 24-28)

SHANGHAI, Jun. 24 (SMM) – 

Supply: Silicon metal stocks at Huangpu Port were 12,000 mt by June 21, with 5,000 mt at Hongkai warehouse, 3,000 mt at Yuehua warehouse, 3,000 mt at Wanxiong warehouse, and wharf inventories remaining at 1,000 mt. In Yunnan, stocks at Guichu Logistics were 3,000 mt, while those at Honggui were 5,000 mt, making total inventories in Kunming at around 8,000 mt.

Demand: Many Japanese aluminum alloy producers started issuing biddings following the country’s largest aluminum alloy producer, primarily purchasing #553 and #441 silicon metal. Buying interest at domestic aluminum alloy producers also increased but to a limited degree. Silicon metal demand from other consumers remained steady. 

 

Price Forecast: As silicon metal producers have to pay for electricity in the last week of June, some under tight cash flow will have to lower prices to generate cash, which may drive silicon metal prices down.