SHANGHAI, Aug. 7 (SMM) – Last week, silicon metal price of all specifications rose, and #553 silicon metal led the gain, with traded prices at ports advancing by 500 yuan per tonne within the week, according to SMM data. Price of chemical-grade silicon metal also advanced due to tight supply, with # 421 silicon metal up 400 yuan per tonne in the week.
Will the price gain be continuing this week?
“Output cuts from environmental factor and rising price of raw materials will continue boosting silicon metal price in China,” SMM silicon metal analyst predicts.
Last week, the central environmental protection inspection team arrived in Sichuan, and this week, the number of silicon metal producers which will be required to suspend production is likely to grow.
Moreover, raw material prices, such as high-sulfur coke and graphite electrode, are still on the upward track, growing production costs at domestic silicon metal producers, both bode well for silicon metal price.
In other news, SMM survey finds that utilization rates at domestic silicon metal producers are 49.43% in July, up 2.61 and 2.13 percentage points, on a yearly and monthly basis, respectively. The rate in July may be the highest level of the year. China’s silicon metal exports are also expected to fall in August on a monthly basis as trading sentiment waned from late July.
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